This upwave is still active, however it went a bit out of control, too many buyers joined the party during this wave, bringing price of one bitcoin from 400 to a max of 20000 usd.
Kinda bubbly!
Now we are withdrawing, supports remain at 2970 level, a break of such level would mean the end of this bull-wave started on October 2015, but don't worry, it will be somehow healthy, new buyers are waiting to join the market, on a more responsible way.
On the other hand, we look also at the 12000 level, a break of such level would open the door for another bullish phase.