BITFINEX:BTCUSD recently drops to a strong support zone as my expectations from my previous trading idea last Thursday. Bitcoin conference is in progress and a big announcement coming soon – over 16:30 Miami time. In short term, such a conference is a bearish indication, but in the long run of course means more adoption.

What is the supported thesis technically for the expected uptrend on Bitcoin

– price finished symmetrical A-B-C correction with A=C wave
– MACD indicator is at the low of 1-st April with the potential to reach the target
– 25% move will be good for price action and an indication of a parabolic 5-th wave
– huge probability price to range in 47-48k – day or two when starting exploding

If you have any questions related to this trading idea I will be happy to provide you with answers.