BTC formed a descending parallel channel which resulted in a retracement to the .382 fib level(ideal retracement for continuation) from ATH Oct 20th. Two higher lows(green arrows) and breakout of channel, Nov 2nd, support found above the top of channel indicate trend reversal. Daily candle close above $61,400 will have BTC above the 12MA. Recapture of the $64,300 level will be another high(red arrows) confirming trend reversal and push upwards towards the $74,000 level in the short term.