Bitcoin formed a large head and shoulders and it has come down to satisfy the neckline target. Increased volume shows that the buyers are returning and I feel confident that we will see a lower high and a break out of the downwards channel in the coming weeks.
After a failed breakout of the Downwards red channel (wave 1) I am looking for a lower high to be posted (to confirm wave 2) where the green circles are, either along my hypothetical parallel channel, or the longer term green trend line which offered strong support before and also lined up nicely with the downside head and shoulders target.