BTC has been showing very bullish price action and momentum as of late. The bears have been pushed up against the ropes and now must fight there way out. Personally I am hoping that the bulls win and we break out of this downward wedge. We have wicked out on the daily. But need a strong push and at least one close above the trendline on the daily. This point we found ourselves poking out of is significant my trendline also will invalidate whatever bearish counts are still out there. But if you look we are currently on touch 5 of the resistence trend of the downward wedge. But there were about 4 touches of this trendline as support as well. So "LONG" story "SHORT" (pun intended) we need to close above about $8400 to invalidate the bearish counts. To invalidate the upward movement as a wave 4 correction from the may downward thrust. Becuase wave 4 can't overlap wave 1. which some say ends down around $8400 which is also around this downward trendline that has been significant since before the ATH. So will we thrust through now, or maybe after a correction, or will the bears fight there way out of the corner and off the ropes "resistence line" to knock down the bulls to lower. I hope the bulls win but we will have to see as this is may be the bull run of our life time as some would say!!!
What are your thoughts?
What are your thoughts?
