TheTophyr

The Fibonacci measurement suggests the sellers at this level are spent. Considered leverage values over time. It could always fall. Especially once the quick money people see that the halving takes awhile. Then they get out. It dips a bit. Then quietly runs up. Ever so slowly.

What do you do, when the RSI breaks out upward, and the price breaks out both downward, and upward...?

The shoe fits... those people have been waiting for a long time.Told you so. Watch, it'll race back up to 72896 and then bounce back to 60k to retest the bottom of the green trend line. After that it'll slowly progress to the top of the green trend line.Lines are still holding2018 Fib is still in play.

Looks like BTC will be trading side ways. I will be buying the dips here while support accumulates. The resistance at this level is very thin. I expect another fall to come with low volume (comparatively) to shake out the loose hands, with a pop back up. I will be surprised if it breaks below 35k, at most it could retest 30k without volume (bear trap), but with a massive bounce back up to 35k again. Alt coins will not like this moment. Possibly a good buy setup. ADA surprisingly has been largely unaffected by BTC's retraction. However, it is holding a little high.

There's a lot of consolidation happening in this area.I'm thinking this is the whales entering the market. They need to give the diamond hands an opportunity of a life time, and then threaten to take it all away to make them sell. Then just sit back and wait for the main flow to take it up as mining difficulty increases... The diamond hands will be forced to buy back in at higher prices over time.