BTCUSD had 1 Major downtrendline which was broken after 1 year of downtrend where it intersected with the trendline passing through from 786 fib to 382 Fib inb 2014 Bear season.
It broke 236 Fib and bounced down from 382 Fib, purple downtrend line; which became support for the fall to 236 fib and then resistance for the fall to 0.
Then it broke the purple resistance line near 0 and faced resistance from the cyan line to push it down further in the wedge between the major downtrend line.
Now, let's have a look at what we have this year.
Major dowtrend line from ATH and our 2nd peak's trendline goes through 618, 500, 382 and 236 Fib.
Today we crossed a minor trendline -sideways- did not break trhough just went by and stopped at 236 Fib as of now. Our 1st major test is 236 Fib and the trend line. Best case scenario is we break through together and go sideways to accumulate and break 382 Fib. If going fractal happens, will break 236 Fib and the trendline and in the midst of 236-382 will fall back between ATH trendline and the purple fractal line.
Then the purple will act as support in the downtrend line while the wedge closes in and the Bear season officially ends with double bottom by mid to late April.
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