Moment of truth for BTC

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
It looks like we completed down wave (4) and are creating the last wave up (5).

BTC will now face heavy resistance at MA50 and the downtrend channel , if it can break 11.000 the bulls most likely have won the battle and we are up and away towards 13.000

If the bears prevail, we are going back down and will face first resistance at 8800 with a likely target of 6600.

I'm standing on the sidelines until I see a clear sign of which side is in control.


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