In Jan and Jun 2017 BTC hit ATHs before breaking down to the 0.236 fib level followed by breakout and consolidating around the .382 and .618 levels, before finally breaking down to the low and subsequently bouncing up out of the falling wedge towards the next run.
Looks like we're seeing the same setup now albeit over a longer time frame, where the 9.2k was the first low at the 0.236 levels, with the consolidation being between 11k and 14k over the next couple months on low volume before breaking down to 6.5k in April, and then we continue the next run up.
I'd play the consolidation by accumulating around the 11k area and take profits at between 13.5k and 14.5k. A breakout out of the triangle on high volume would invalidate this idea.
Looks like we're seeing the same setup now albeit over a longer time frame, where the 9.2k was the first low at the 0.236 levels, with the consolidation being between 11k and 14k over the next couple months on low volume before breaking down to 6.5k in April, and then we continue the next run up.
I'd play the consolidation by accumulating around the 11k area and take profits at between 13.5k and 14.5k. A breakout out of the triangle on high volume would invalidate this idea.