BTC Reveral Hunting

Hi guys, its been a really difficult tast to talk about BTC as we had bear winning throughout the year.

At the moment BTC Price is at another strong support if this support failed to hold we will have massive free falling again to test next weak support at 1876$ before final grand support at 1127$.

Must hold support is 1127$.

My expectation is a major reversal at the 2985-3000$ level to complete the corrective wave (c).

RSI approaching the all time low at on January 2015 at 26.11 range, at this level we have major change in the market to begin all time high journey.

Fingers crossed to see how this develop.

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Note:
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clearer view of the present support level, this level seems so strong but we never can tell let see how the trade develop here.

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BTC is struggling to rise up on the smaller timeframe, may be before next dump to 3k zone.

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The previous move later result into dump to form bullish divergence that leads to that 300$ pump which at present look shaken.

4hrs timeframe chart show potential falling wedge which is nearing the end and if this break as expected should move up.

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BTC is pulling back again and this move could either a real impulsive move or Corrective moves.

If the move is for correction then the target will be 3640$ then we have more drop may to new low at 3000$. It will be in the form of ABC move just like i show it on the chart.


But if the move is for real impulsive move then we will have complete wave 12345 which should happen in the form of this Giant Inverse Head and shoulder with target showing 5200$, then down to re-test 3000$ zone again before more rise.

Fingers crossed to see how this will develop.

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On lower timeframe we have triangle formation which may actually break into either of the side but I will go with breaking up to complete the length wave C of the corrective pattern or wave 3 of the continues pattern.

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From the last update the triangle break down and tested almost our down target before it bounced back up. We still aim the immediate target of 3640 zone before we see next major move either dump or pump.

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Btc showing possible strength pattern towards 3000-3200 level we may have medium reversal here to re-test 5k zone.

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