The Bulls are taking some time off, but there is nothing to worry about.
It is very common that a 4th wave consolidates like this. After a pull back we bounced perfectly on the 38.2% retracement level. Only thing the bulls need to take care of is that we don't drop through this level and stay in the current bull flag.
For the next wave I have 3 targets for you...
COINBASE:BTCUSD
Self Explanatory BITMEX:XBTUSD Chart
Moving Averages, That confirm the qualified support and resistance trend lines
If this trend test fails to break above resistance, the likelihood of the support holding drops significantly, this will create a high probability of a price drop
After making a new low BTC has been making higher highs and higher lows, trending up towards the Chinese-Dragon Trend line.
Higher High retraced back to the 61.8%-78.6% Fibonacci Zone and used the 61.8% as a support level.
Looking for a potential long to the Fib Extension levels confluences at the Chinese-Dragon trend line.
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