reverse shoulder head shoulder was made. Still in bullish position, how ever you look. If price will hold, push up is inevitably.
1D MACD is bullish
Bad scenario still exist, fall down at $6k or lower...
BTC still didnt break the line of the triangle. 1D of MACD is getting up, verry good indicator that shows IT IS GOING UP sooner or later. But before that BTC still can fall down again to $6k or even less!
BTC is still holding inside the triangle border line. RSI in MACD are in place to lift off and make new higher high. If that will be done and it get to point 5, ABC correction will follow.
If it stays on the up trend line we`ll get another good position for starting higher high.
BTC will hit the lower low one more time, then it will have a opportunite to break the line up. Till then he could hit under $7000.
If he will do the break up, he must go above $19k otherwise ABC will be done.
This is just idea or should i say possible scenario, if i look at BTC in 1 year range, It could be, that this big January correction is just a ABC correction of a 1st big Wave, starting on July 2017.
In that angle, BTC is on 50% of ABC correction.
Just My Opinion