I know that you wrote this before we blasted through $5k, but I would say that at least in the shorter term, things changed when we broke above $4500 a couple days ago as right below that level was where things started to crash from the China issues.  A quick run to test $5k made sense, and the breakout today also made sense, IMO.  As I think the market may be driven right now by people wanting to hoard as much BTC as possible before the bitcoin gold fork in a couple of weeks (if it happens), I think we might go much higher than the current ~$5300 over the next week or two.  In any case, it was great to see a decisive break of the $5k level.  While anything is possible, the move's strength would seem to suggest that this was not a false breakout.