The move up that took us here looks like it ended with a truncated 5th wave, starting from that point it looks like we are forming a descending triangle and our expectation would be a continuation of the move up (this is only in the short term I do think that we are headed lower overall)
We are in a channel moving up We hit the 1.272 on the way up and got rejected When a Channel breaks it's usually in the opposite direction that the channel was moving in This makes me think that we should be heading lower soon, assuming i'm right about this channel
Bitcoin is invested in a long-term relationship with fib levels, it's pretty serious stuff.
The RSI is being pretty risque with all of this divergence and it looks like BTC is being pretty wild forming this contracting triangle. This gives us a pretty good reason to assume that the triangle will break down, if anything changes i'll try and let you all know. The time frame for this should be no more than 3 hours since we have already contracted a good amount.
All of the white lines are targets for wave 5