Bitcoin broke through the 500 day MA resistance but as you see from 2014 it was later rejected and formed the consolidation cycle which broke market structure (the $5800 support) There are several factors why bitcoin will not be breaking out past $7200.
(1) RSI is overbought
(2) Price is still below the 200 day MA
(3) We have not made the golden cross (when the 200 day crosses upwards against 20 day MA)