It has taken a long time and my patience had been nearly at its end. But now it has happened: the final corrective wave is taking part. And it shall lead the Bitcoin to prices between the ascending long trend (broken line) and the last support at fib retracement 0 - I marked the zone as circle.
We´re now on a price-level which Bitcoin had left in november 2017 before starting the rush to about 20.000$. And in my opinion this is good news. Because the fast rush consisted only out of hot air - and this should have been gone now.
In the next days we can expect some volatility and BTC fluctuating around 5.500$.
It shall not cross the long ascending trend - this would be a very bad sign and we had to expect further losses. As long as Bitcoin stays above this trend line the generally bullish trend is still alive.
In this case the actual price-level shall be the basis for a new bullish trend. It can lead BTC out of the captivity of the last chart patterns (rectangle and descending triangle) - which are resistance lines and perhaps turning points within the new motive waves.
This is no trading advice!
We´re now on a price-level which Bitcoin had left in november 2017 before starting the rush to about 20.000$. And in my opinion this is good news. Because the fast rush consisted only out of hot air - and this should have been gone now.
In the next days we can expect some volatility and BTC fluctuating around 5.500$.
It shall not cross the long ascending trend - this would be a very bad sign and we had to expect further losses. As long as Bitcoin stays above this trend line the generally bullish trend is still alive.
In this case the actual price-level shall be the basis for a new bullish trend. It can lead BTC out of the captivity of the last chart patterns (rectangle and descending triangle) - which are resistance lines and perhaps turning points within the new motive waves.
This is no trading advice!
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