Rising Channel
Updated
Just forecasting right now. This looked like an ascending triangle breakout to me, which may very well be in play, but this point makes a good clean rising channel pattern as well. My last post showed a similar pattern play out on the 1hr time frame, and as I said in that post, I would expect a big move if this channel breaks to the upside.
Note
I put in low leverage short here $11,858 with a 1% risk in case we break up. The channel seems to have confirmed as resistance and there appears to be a smaller rising wedge forming inside of the channel. A throw baclk to retest the $11,250 range seems logical. 
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