There are also several divergences, wiseman signals and this on that support the stance. Reasons to be seem low especially with the BFX and Gox hacks still looming over Bitcoin's head, the failure to fully retrace the previous downtrend that began with the Gox hack on the last major bull run leaves us with a very good chance of having to retest 300-400 usd again before being able break the A.T.H, especially with the BFX hack now weighing down on BTC's confidence.
It looks like we are going to form into a polywave for wave-c so that means there could still be a 5th wave left in this, but it will likely be truncated because of how strong wave-iii was, and because of the really strong buy signals that it formed which usually signals the bottom. If this chart plays out it could be a fantastic long. Also note that it doesn't have to be truncated it's just likely and if it is that would mean there is extreme counter-trend strength.
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