At this point in time we still need to confirm our ST - but as we are currently highly oversold I'm expecting a bounce here.
According to Wyckoff, this bounce should then bounce us all the way up to the AR level - after which we expect to fall down and ignite that spring reversal.
I'm expecting the spring to be around the 20k level as it will break the 200 weekly...
Based on this chart we can clearly see that BTC is currently inside an upwards channel.
Touches on the ends of this channel always resulted in big legs up or big legs down, which always bottomed out where the descending wedges intersect with the bottom of the channel and the 50% fib level.
When we found support on the bottom of the channel and above the middle...
