Using BITSTAMP BTC chart you can see a new clear support trend that has been created dating all the way back to mid July 2017. It has had 3 clean touches which has now validated this as support. The above picture represents an ABC (5-3-5 Zig Zag) correction spanning from the ATH of 19000 USD to the present price we are now forming a Diagonal Triangle Pattern. A strong rejection at the 9800 USD price would confirm and validate this potential scenario that could potentially take a couple of months for the entire Diagonal Triangle pattern to play out. Also, the 9800 USD price would be a rebound of the 0.618 Resistance which is also a major player in this chart idea.
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Please Note: that the 12345 impulse wave down of the larger fractal ( from the PURPLE B to the PURPLE C) is actually an ABCDE impulse wave. Diagonal Triangles have the exception of wave 4 crossing into wave 1 territory.