Today is a big day for Bitcoin in several ways. To begin, it will mark the first time the long-term upper trend line will be tested as support. BTC surpassed this level in the last week, giving hope to the bulls for a long-term trend change. Thus far, BTC has performed even better than expected.
However, what goes up must come down, and considering yesterday kicked off the start of BTC’s retracement, today will allow price action to really test the upper trend line. With Rogue* Wave pivots marked, you can see in clear view how recent price action look to synchronize with the previous legs as volatility kicks in.