Time for the next set of waves for BITCOIN
Updated
It is time to continue higher for BTC. Our next resistance will be just below All Time High, where we will have to work through a few times before clearing. If you want to see deep analysis as to why this is my way of thinking, here is my previous post:
I am going to keep this post short, because there really isn't much to explain. Review the above analysis to get a clear understanding of what is going on.
If BTC breaks below $10,600, I consider this invalidated.
I am going to keep this post short, because there really isn't much to explain. Review the above analysis to get a clear understanding of what is going on.
If BTC breaks below $10,600, I consider this invalidated.
Note
There were a lot of dummies using 25, 50 and 100x long leverage in this “pennant”. They have now all been liquidated. While we are above $11,100, it is of no concern. Note
On high alert, I was not expecting this level to break. If it does, it potentially is not following my scenario.Note
There are problems with what is going on with Bitcoin. I do not have a clear read on exactly where we are going. And the rules I follow have been broken. The setup I had is no longer valid.
We should not have crossed below $11,100. I do not have a strong read on where we are going from here.
Note
This could be the signal alt-coins need to know Bitcoin is not going to continue parabolic growing right now. We may see a boost in the alt/btc market.
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