The price breaked out of a triangle contracting pattern,and immediately blocked by the same scale supply. During the retest of the support,there will be a great opportunity to join the bullish run.
The price keeps rising, and get into wave(2) area, currently the supply is not strong. I am expecting that the price will keep rising near the top of wave(2) .
After a low vollume candle breakthrough a uptrend parallel channel, a hammer candle followed and provide a fact that the breakout was weak,but it had not proved it was a fase breakout . And of course,the support line was not strong. If the price can get into the channel again and stand upon the line, it will be a great opportunity to buy and open long...
It seems that a sharp correction of a Leading Diagonal wave is coming. If that happens, 0.5-0.786Fib or wave(2) area will be the target. I am waiting for more signals to prove it. This assumed Leading Diagonal Wave may be wrong too, it is hard for me to Draw conclusions.
It seems that bitcoin resume the shock trend,and is breaking through box-1 and into box-2. Pice goes up after toughed weekly support, but the response is weaker compared to last support action. Long body with lower vollume candle followed one hammer candle, and i can't find the evdience of supply vacuum. It is the sign that the price has no continuance to...
Firstly I am expecting a C Wave Drop to create a new lower price. Sencondly,The new lower price will likely stop at the top of the WAVE(2) area.
The bottom of this bear market will likely end at 13.8K-12.8K USD, 13.8K is the cost to mint one coin currently. 12.8K is the strong support line of last bull market.