BTCUSDT Analysis by @pipsnipers

The analysis focuses on BTCUSD using a 4-hour chart. Yesterday, the price was grinding up off the 21-period moving average, which has acted as support in the past. An ABC correction occurred, followed by a move to the top of the range. The price back-tested the 21-period moving average and then broke above the channel, using it as support, now it is seeing continuation higher. He wants to see a move above 109420 and 109866. These levels are derived from a Fibonacci retracement from the highest recorded price to the lowest recorded price before the consolidation event. A move above those levels would invalidate high timeframe supply. The move to 118000 represents the upper bounds of the ascending channel. He claims ascending channels represent bullish sentiment and a move towards all coins. The bearish scenario represents a larger wave four, which if the trend breaks the predicted path at 104000 , the target changes.