This is interesting news. BTC was massively shorted and some big buyers just came along and forced out a bunch of idiots who were going too short, potentially opening the way for a continued breakout - but we're staying within the overall trend lines, so you can't call it a true breakout just yet.

On the macro side, Trump sent out a tweet that de-escalated all of this talk about war in Syria and Russia. The broader markets loved this, and the NYSE crowd went wild this morning.

Furthermore, the upward rally stopped right on time, at the longer-term downwards trend line. This is a key moment in time for BTC. It still has to break through that long-term resistance of the downwards trend line. If it does, it will also probably test it again - soon. If it holds as support, we're off to the races to test $8,500 and $11,800.

Is this a time to buy? If you're not "in" cryptos already and are waiting to move in some cash, wait and watch it like a hawk. This is a good time for short-term trades. If it starts to get another big upwards move, buy in! If it starts to get a big downwards move, wait.