After hitting the ATL at circa $5.8K, the market was heavily oversold causing eventual move to $12k.
After todays recent pullback it would now suggest this was wave one. We may now see a micro-sustained pullback before entering wave 2 which is always the most powerful.....
After yesterdays pullback (we did not break out above the previous high ST resistance represented by the horizontal RED) it would suggest this was wave one. We may now see a micro-sustained pullback (potentially back to 200MA) before entering wave 3* which is typically the strongest bull, before retrenching slightly for the final 5th wave.
The current price @ 9.8k continues to support the theory thus far.