CryptoColm
Long

It all makes sense now, Bitcoin to 10k

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A wedge breakout, a descending trend line , Elliot waves theory, It all lines up. Bitcoin             is going to 10k. Bitcoin             has formed a descending trend line and has been kissing it about once a month. With it being 15 days since Bitcoin             has toughed the trend line it is likely for Bitcoin             to pump back up to 10k to touch the trend line . In January we saw bitcoin             go through an inverse head and shoulders pattern. Many bulls thought that this would end the correction and cause bitcoin             to break this trend line . Unfortunately Bitcoin             bounced off of the trend line . During March Bitcoin             formed a descending wedge . Two days ago bitcoin             broke above the wedge and is now rallying toward the top of the trend line . Another indicator that Bitcoin             is headed upward is the Elliot Waves Theory. Elliot waves theory has been accurately followed since January. We just got out of the reversal waves and are waiting for our four bullish waves.
On top of the technical analysis , there is also a catalyst that is driving bitcoin             higher. At the G20 summit meting a few days ago they ruled that there would be no regulatory action toward crypto currencies. The fear of regulation was a main cause of FUD in the market. Now since there is a smaller chance regulation will come in, bitcoin             will feel like a safer investment.

The trend line , the wedge breakout, Elliot waves theory, and the G20 summit meeting are all reasons bitcoin             has upside potential.

Thanks for listening,

CryptoColm
Few days ago? G20 summit is happening right now...
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