Bitcoin surged above the prior high without any real issue, touched $2900 and pulled back to the break-out level from around the first Fibonacci-extension at $2925. BTC is still on a buy signal with the short-term trend still being intact. The Fibonacci based targets for the current move are $3050 and $3260, with the prior swing ...
This sounds reasonable to me, although I think it's important not to get too bogged down in a single form of technical analysis. Bitcoin definitely still has strong upward momentum and should continue to rise in the short term. That being said, I still think it is overpriced an will have a very large, major correction within several months.