It really seems so, especially when you take into consideration that we haven't had much resistance between $5500-$6500 at all. The price broke through these levels effortlessly.

I would have expected that the levels that provided so much support last year, would turn into major resistance this year, but not at all. The price ignored the indicators and volume profiles and surprised many of us.

Currently there seems to be a bearish pattern playing out with a fairly high probability of going back down to low $7000s, but even if it does correct to that level, we're still up like 100% from the bottom.