SUMMARY
Since the beginning of this correction, the sellers have been giving all they had to try and cause a Bitcoin crash and it still hasn't materialized for them. The uncanny a,b,c,d,e triangle pattern is tiring the sellers. Their mojo is depleting! That's what these consolidation patterns often cause and it's confirmed by the noticeable decline in the volume. If the d and e waves of the triangle complete, then volume will decline to a only dribs and drabs. The contracting lines of the triangle are quite effective at tiring out any mass of sellers because as the volume declines, so is the population of sellers.
The MACD is curling upwards and has crossed bullish. I believe if BTC passes $14,630; then wave d is in play. Let's see how the day time price action carries on.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Tutorial on the use of Fibonacci & Elliott Waves
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