As you can see BTC is making a very manipulated move upwards on the log scale chart descending wedge. It is definitely not an impulse wave so it seems likely to me this is building a wedge to a max retracement of the 78.6 prior Wave 1 down of the C leg.
At the beginning of this rally we saw a buy wall that was never touched We are now also seeing a nice regular bearish divergence. If she touches the 786 or comes close I'm shorting this fake move up big time :-)
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market continues to sucker in people who believe the bottom is in and are saying that bears are in denial and that they are so exhausted that now only small buyers are left to slowly rise it. That is not how I see it. I see price action sloowly filling bear buckets. I see price action to continuously diverge from the 1h rsi calling it a clear bluff. Patience is key now, won't take long now before we'll see a proper sell off and wave bye bye to this, cough, "motive wave up"
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regular bullish divergence atm so I cashed in, will be shorting her higher