ivogruev

ivogruev

The 419 is still holding the price of BTC. I can say that accumulation is close to the end. If so, today we will see the price of BTC rising again. Only a decline below 413 put in danger the bulish scenario. A shalow decline below 418 is a sign for more accumulation.

ivogruev

All reversals hide risks. Even we got the first bullish signals last night we need more confirmations. Before a clear break out at 426 I will keep a neutral stance. Such break out will be a strong confirmation for the bullish scenario. Till the price is below this level I will be ready for a bearish alternative too. It will be confirmed with a break down below 413$.

ivogruev

It seems the support has stopped the decline. The volume at the bottom shows no selling pressure. The only surprise could be the chinese session but pattern is low risk for the bulls. Target for the fifth wave at 450-460$

ivogruev

The pink elips is conjestion of supports. If the bullish scenario is valid, then we will see accumulation in this area as the end of wave 4 and beggining of wave 5.

ivogruev

The main support is at 415 area. If I see any accumulation in that area I wii look for a buy signal.