We are in the falling , and if BTC support is high, we could break out at (1 - follow yellow) or we will continue to bounce in this channel and attempting break out again at (2 - orange), if not the bounce will continue and last attempt at (3 - red).
Please note that from my knowledge, the break out at (2) is unlikely to happen, if we will miss breakout (1), we will have to wait for the next one at (3)
It is unlikely that BTC would go to 0 fibo support which is $5300, meaning to neutralize all the end of year surge.. but who know?
After this retracement end, the BTC journey to 30K+ will begin.
That is my novice analysis, please don't believe me or anything I am saying here, and I am not the proessional trader nor financial advisor.
Resistance was not broken - psychologically take the whole market down together.
BTC gonna form sub falling wedges if it can't break this resistance again with in 23 Jan
But if similar pattern from the previous month is complete.
Area between Point 2 can still be expected
Will BTC break this resistance and head for next one?