My former post has been showing a completed wedge
. This wedge
now extended to a larger wedge
bounced off 2 times off the strong support line @4935 Sats
. It has also been hitting the fibo retracement lines almost perfectly during the ABCDE correction. Now the price is getting squeezed in by the upper wedge
resistance line and the strong support line which indicates a breakout. Furthermore MACD
look quite bullish
Considering BTC's current correction phase there is still the possiblity that is drops down to the next support level
which also fits well into the fibonacci correlation. It also could mean that after wave 1 there will be some longer wave 2 until it synchronizes with BTC's uptrend.
Good opportunity to set buy orders above the strong support. Setting a SL is mandatory!