We're seeing a clear hidden bullish divergence on the 4h chart, lower lows on RSI, higher lows on price. If price holds 8900, which it looks like so far, it can play out as a triple rising bottom, waiting for it to break out of the channel on the upper side with volume. Volume has not been big in this drop back from upper 9k ranges. Consensus is coming....
Bear div on 5h subwave, some correction was immenent. Completing ABC correction is next before wave 3 up will smash the log downtrend.
Although fundamentals and sentiment seem te get better by the hour. So maybe we will smash through log downtrend before completing a small correction.
In case of correction we might see 0,786 or 1 extension for the correction...
Two scenarios: bounce right now and get a sort of double head and schoulders, maybe wishful thinking? Other scenario might be a double top and we'll probably see 8000 or less
$btc prediction: Some more correction towards 10300 looking at the forming of a rising wedge on the 15min chart. Support and trendline (10300 app.) both together and should hold. Ascending triangle forming on the 1-4h to test big trendline down first, then 11,7-12k again next 7-10 days.
Big ascending triangle might be forming, closing in on resistance as well as trendline around 10,3k. Needs to crack trendline down from 20k in the bounce from support. Let's see. Note: i'm still mastering my TA and far from a skilled trader.