Chart is self explanatory. Some people say we are going up and others say we are going deep down... I say we let the the market decide which way it's going. So far the bulls are (barely) holding bitcoin above the trend line, we are days or weeks (at most) away from knowing which path will bitcoin take.
Price should not go below the left bottom, so looking good so far. Higher volume on left bottom than right, looking good. 96.5% increase from the lowest valley to highest peak, that squashes the minimum of 10%. Taller patterns perform better, fitting. Waiting for the solid bounce and test of the confirmation line at 11788. I'm optimistic!
davec83
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@aFastHero, I'm optimistic short term, once we reach the apex, anything could happen.
davec83
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@aFastHero, today we bounced exactly off the trend line, which is exactly what I was expecting. Lets see how long it lasts.
aFastHero
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@davec83, based on the larger fractal, I believe we will get up to our ATH and then make higher lows. Likely a triangle correction that breaks up into a 5 wave. This type of move is a common trait for 4th waves and seems to clearly play out multiple times in the BTC chart.