I analyzed Bitcoin based on Harmonic pattern usually.
However, it seems like totally reverse arrangement of MA, 20, 60, 120, 240.
MA arrangement of last year is opposite.
In this case, those MA line could be resistance level so that it is really difficult to make super bounce.
I think touching 20 and 60 MA line is the first step to go further level.
In aspect of stochastic analysis, I draw a yellow line in the stochastic (20-12-12).
Those kind of stochastic movement is an important signal, divergence.
To conclude, Bitcoin needs a lot of time to make MA arrangement, and I think at least 1 or 2 months.
However, if there is a big rise with huge volumes, it could decrease this period.
Before this things happens, just wait.
If you are a long term holder, take a rest and I suggest do not spend time to watch Bitcoin chart.
Sometime you need to be patient to invest something.
Do not be stressed by Bitcoin too much.
However, it seems like totally reverse arrangement of MA, 20, 60, 120, 240.
MA arrangement of last year is opposite.
In this case, those MA line could be resistance level so that it is really difficult to make super bounce.
I think touching 20 and 60 MA line is the first step to go further level.
In aspect of stochastic analysis, I draw a yellow line in the stochastic (20-12-12).
Those kind of stochastic movement is an important signal, divergence.
To conclude, Bitcoin needs a lot of time to make MA arrangement, and I think at least 1 or 2 months.
However, if there is a big rise with huge volumes, it could decrease this period.
Before this things happens, just wait.
If you are a long term holder, take a rest and I suggest do not spend time to watch Bitcoin chart.
Sometime you need to be patient to invest something.
Do not be stressed by Bitcoin too much.