Bitcoin- "Where are we?" Technical Analysis 1/28/2017 by Jonathan Baez

"This is not a financial advise, you should only invest what you can afford to lose."

Hello again, my name is Jonathan and I will start with brief technical analysis for Bitcoin.

So where are right now?
Bitcoin is currently moving sideways below the 314 moving average.

Where are we moving?
Bitcoin has been forming a decending wedge for the pass weeks and in short term bulls will attempt to take back by trying to break 314 moving average which is around $12,500. You can clearly see it attempted to break in Jan, 20 but it got rejected.

What to look for?
We are waiting for BTC to break the resistance and retest above it making it support once again.

Marketcap also shows signs of recovery after the 2 previews dip.

Thanks for your time, please comment and upvote. Feedbacks are welcome!
What do you think I should look for next?