Often times, simplicity works best. So in an effort to adhere to Occam’s Razor we’ll keep it light.
When it comes to the weekly time-frame, the 50-weekly exponential moving average (EMA) has both acted as a magnet for mean reversion price-action (a.k.a. a bear market rally), and a pivot from which prices spring-board higher (bull market pivot).
If bulls are resolute, steadfast and unrelenting, a weekly close above $40,260 would convince me of the melt-up scenario suggested in this falling wedge structure. On the flipside, a retest of the 200-weekly EMA ($27,000) is a great place to look for exposure.