We have 2 scenarios . An immediate bullish scenario 1 and another scenario with a little more correction before the price jump (scenario 2) . I do favor the main bullish scenario or scenario 1 . we also have a bullish RSI divergence in play. I wish all of you a profitable 2020 . Feel free to comment below .
• Currently ending consolidation wave 4 of larger cycle starting 6th Feb @ c.6000
• Wave 4 formed bullish symmetrical triangle and looks to be breaking out
• Entering fifth impulse wave of motive phase:
- Wave 1 to reach c.11,750 at historical support/resistance level
- Wave 2 to retrace to the 38.2% Fib, also a historical support/resistance...
I see a key date of Feb 19 for a defined trend showing either a bullish breakout at the end of the wedge which appears to be in equilibrium at $8600 or a resumption of the bearish trend seen so far in 2018. Key drivers are FUD feeding the bears and 'a lack of FUD' feeding the bulls (unless another 'Giancarlo SEC hearing type moment' occurs). Perhaps more news on...