Bitcoin Price Action Explained [Wyckoff and Fundamental]

Look at price it completes two bullish patterns at same time:
Bullish Divergence and Cup and Handle.

Additionally we have good news:
China will accelerate blockchain development and probably increase investment in blockchain technology and crypto as well. Among with it China is preparing for the launch of its own state-backed cryptocurrency and it will be unveiled next year.
Uber launching own digital wallet and updating its Card services.

Techincally speaking we will probably see price action below the open level of the candlestick with biggest volume occured at October 26.

• Expected buy the dip levels below 8650, and above 7400.
  
• Stop loss those buys will be good if price managed to make new lower low without divergence.
  

Please share what do you think about current market situation and what is your expectations in comments.