Possible outcome of the channel are briefly describe on the channel,
Breaking down will lead to a retest of the following levels:
7925 (weak support)
Potential Reversal Level 7680 7585 7495
Bullish Defender Level 6990 6805
Below these above listed level, it signal downward move again which is END of the BULL. Mean back to 6000$.
If price eventually breakup the level to watch are:
8400 8755 9000 9250 9935
If all these resistance level is achieve then, another form of correction will set in.
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Look like we bounced
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New post created on BTC to follow up the previous analysis, guys do please have a look and leave your comments.
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Updated post opened to follow the current market effect.
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Bottom of wave 4 seems to be established around 6885$. But there is every possibility of re-test of this level again. So we highlighted 6770 to 6885 to be our bottom for wave 4. Next target for wave 5 is 9900 level.