Waves found the support with a clear rejection of it at 35k satoshi. This is the 227.2% Fibonacci retracement applied to the corrective wave after the uptrend trendline breakout.
After rejection WAVES/BTC formed a wave up while breaking above the downtrend trendline. Price still remains within the descending channel where middle trendline has been broken. The support is seen at 50% Fibs, that is 60k satoshi, that has been also rejected.
While the support is holding more upside potential is there. Waves could rise up to 100k satoshi psychological round number, that does correspond to 50% Fibs level. A daily close below 60k satoshi, that is the nearest support, might invalidate bullish outlook and extend the consolidation. Prior to that another wave up is expected.
