Our favorite strategie took place on Bitcoin :
- End of bullish cycle on Elliot wave 5
- M Pattern
=> Sell signal (refer to the MW Pattern channel)
Since that decline where Bitcoin lost 50% of value, market entered into a consolidation phase. The range is defined by the MW reversed pattern on H4.
Any break above/below these 2 levels are expected at some point. This accumulation hase takes place on that daily support zone at 30000. Until now, that support holds.
We expect Bitcoin to resume up trend, a daily break above 41000 is required. This scenario would be invalidated with a break below the daily support