With all the uncertainty, I'm looking for 2 things:
1- consolidation. would be nice to see consolidation in an towards the testing of an important resistance or a . This will be a nice signal that bulls are back in the field. Of course after this, I will be looking for a breakout.
2- Breaking the . Note that the ceiling of the can become triangular as we progress into the future.
Also keeping an eye on the 3 potential recovery channels in black, red and blue. They are great candidates for the bulls to re-assemble. all dotted lines can act as support or resistances, so looking for bounces out of any of them to get a hint of what structure btc is following.
I'm hoping it doesn't have to take this long to get out of this hole as the Chinese will be back in game soon, but with wall street in the game, even the whales are being cautious. We won't really know until we get validation on the 2 points above.
Let's keep a cool head while we see BTC pick up. It is highly unlikely that we will make it out of this massive Bear trend in a few clicks. We have yet to see several Elliot waves and corrections.