After observing Bitcoins behavior we can make the following observation(s):
- Bitcoin's price bounced when hit oversold condition on the daily.
- Bitcoin's daily crossed right after it tested the support line several times.
We can spot the start of a possible which could make Bitcoin break the resistance line.
This would copplete at approximately 10700 USD.
The , after completion, retraced an average of 18% ( Based on the data used from http://thepatternsite.com/GartleyBear.ht... )
If the completes, followed by an average retrace after the completion of the , this would result in the perfect retest of the resistance line.