Here we are approaching the macro downtrend line and you can see we've breached it on the linear chart.
I believe momentum will slow here until we establish a break and hold above the logarithmic chart downtrend line.
Once we break these lines and hold above I believe Bitcoin may start ranging and ideally alt coins will start to flourish.
I expect to see a small reversal between here and $12.3k. In my bullish scenario we can get to $13.8k before a corrective move. I believe we are in a wave 3 still.
Let's watch.
I believe momentum will slow here until we establish a break and hold above the logarithmic chart downtrend line.
Once we break these lines and hold above I believe Bitcoin may start ranging and ideally alt coins will start to flourish.
I expect to see a small reversal between here and $12.3k. In my bullish scenario we can get to $13.8k before a corrective move. I believe we are in a wave 3 still.
Let's watch.
