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The channel in which #bitcoin price is consolidating has been very consistent, acting as both resistance and support. A confirmed breakout (retest and hold 9k) and $BTC can target the 2018 highs at 1.618 Fib level. Failure to cross means reversal to the lower end of the channel.
The 21st of November we published the following pitchfork channel: https://t.co/YEIaS6roZG Since now it has demonstrated itself quite accurate in predicting #bitcoin price action. Until $BTC breaks the whole formation either on the upside or downside, you can still rely on it.
“History doesn't repeat itself but it often rhymes,” as Mark Twain has often said. Look where is #bitcoin now and where it was 1y ago. Moreover, the rising parabolic curve on logarithmic scale is still intact and can be a support for more time to come as $BTC halvening approaches
#bitcoin OBV and RSI shaping a similar falling wedge breakout. Watch for deflection in the MACD lines with the hystogram holding above zero. despite $BTC falling wedge breakout, expect a 5th Elliot wave before the real uptrend reversal.
Let's look at #bitcoin $BTC weekly candle close. RSI at 80 resistance. StochRSI 77 days topped off. TD on spinning top candle (slight hanging man). Rising wedge and Ichimoku cloud resistance targets into $10K. Volume consistent but lower high on OBV (possible descending triangle)