Bitcoin Retains Bullish Bias, Eyes New Yearly High

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Having recently gone through a 10% correction, one might think that the Bitcoin rally is over, but that would be so wrong because the Bitcoin market continues to be bullish bias over the mid-term. We can see that Bitcoin just had a bull cross between the 21 and 200 EMAs, and another one between the 55 and 100 EMAs. Price continues to rally higher above the bullish Ichimoku cloud . The bulls did a great job by defending the 4900 level from the bears that ravaged the market over the past few days. Price is now back above the 5000 level and has been grinding up since yesterday, flushing out disbelievers and slapping the face of doomsayers with their own words. As long as price stays above the recent low of 4934, we can expect to see more upside over next week. The next resistance is at 5380 and beyond that would be Bitcoin's new yearly high.
Agree :)

I agree with you. Nice work on the TA and article.
So, you mean wave 4 can't go below its own sub-wave 4, I thought the limit was the end of wave 1.
bibboyne Jolgan
@Jolgan, I didn't say that. What I meant was we should have completed wave 4 at 4934 so if btc drops below that, it invalidates my wave 5.
Jolgan bibboyne
@bibboyne, I have the same wave count, and different invalidation level
@Jolgan, seems you are all correct
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