Long

Bitcoin (BTCUSD): Bullish Case For New All-Time High

Updated

In my previous idea I warned against selling bitcoin unless it breaks below the key support @5420. I also pointed out that there is still possibility for another all-time high under extended 3rd wave scenario. This scenario is outlined on the chart. The break of $5500 should serve as a stop loss.

Note

Detailed chart:

Note

And the alternate, reversal scenario:

Note

So far, so good. Such a clean entry from the 'Buy Zone'.

Note

Meanwhile, price has hit the main target which is confluence of two pitchforks. I'm not very bullish at this point.

Nickonomics

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