Support: Dotted Turquoise , Resistance: Dotted Purple
Staring (point 0) from bouncing at resistance line, then:
Wave 1 – Fib 0.618 : Dec 12 (touched support line)
Wave 2 Jan 7 (touched resistance line)
Wave 3 Fib 0.382 : Feb 5 (touched support line, , also last 9 months support line in red)
Wave 4 Mar 5 (touched resistance line)
Wave 5 (Guessing) by...
Market is bouncing back, everything looks green again.
But, it's possible that we have the fifth wave ahead. Looking at last three years, there were always another recession in March (getting ready for taxes?)
Coinbase was under pressure to add XRP to its platform from months ago. Now, XRP claims the 2nd market cap holder and it doesn't make sense to not have it on a major exchange. This will allow direct purchases of XRP using banks and credit cards by 12 million users. Imagine only 2000 XRP in average and that makes it more than 20 billion XRP demand.
As stated many...
BTC was going up in hope of CME's magical influence, that would be in my opinion an amplified version of CBOE (CME has 10x more asset).
We passed stage 1, and enter stage to just few hours ago. This time there is no good big news to push BTC to higher highs.
Also take a look at last two years chars from DEC to Jan. BTC always crashes after new year holidays.