This is what I'd really like to see from BTC over the coming days.
- A short lived correction to support and 618 fib retracement of recent pump.
- Bounce off support/618 to next resistance of 6800
- 6800 resistance is the 618 fib retracement from previous HIGH.
- Id like to see BTC close on the daily above that 618 preferably $6900+ forming a higher HIGH
In 2014 correction we see a triple bottom in accumulation period. Are we possibly seeing history repeat at 2x speed? One more low and bounce on 5800-6100 zone could very well triple bottom (Happens to land on overall trend from 2014) and turn to breakout of the wedge launching us into bull season? Possibly!
We are by no means out of the woods. If we break down out...
There is alot of bearish sentiment out there for BTC at the moment. I for one certainly have not yet been (100%) convinced of an impending bull market. However, I am seeing a possible EW playing out. Fingers crossed huh.