The Wave 5 is still missing.
Price is getting very close to the Wave 1, so the decision has to be made now.
IF this is a Wave 4 bounce, it cant go above $210, and should decline to a new lower low before doing that.
Notice how 20 WMA provided inpenetrable support during the 2017 bull market all the way from $600 to the top. Each time Bitcoin tested it, it bounced back. During the 2018 bear market 20 WMA provided strong resistance.
This year in March 20 WMA crossed bullish, but in September crossed bearish again. In October we retested it but got rejected, and price is rapidly...
Descending Triangle (shown in white) is bearish, and currently 75 cents of Nano look like 6000 support Bitcoin had before breaking down. If this is correct, Nano could end up going to 2-15 cents region (previous support levels).
On a bullish probable outcome, we could be looking at Cup (shown with green) & Handle (shown with blue). Decline under 73 cents will...
BTC is making a nice rising wedge and so far any attempts to break the bottom support didnt work.
Counting the waves, BTC just finished a wave 4 out of 5 of a higher degree of trend with the ABC correction.
IF bottom support holds - there still a higher high to be had.
After breaking the bear flag (or ascending wedge , w/e), BTC 0.17% decided to consolidate in a symmetrical triangle, before making another leap up.
Most of the time price goes all the way (ABCDE) before breaking out, but keep in mind what it could breakout after reaching D and not go for the E.
1st possibility (cyan):
We bounce from 1st support and break the upper resistance line.
2nd possibility (my primary, yellow):
We gonna see a bounce from 1st support and another attempt to break the resistance.
I think its gonna fail and fall down to 2nd support as bitcoin rises, and LTC is unable to keep up with it.
Then there will be a second bounce from 2nd...