ivogruev
Long

Beautiful picture for the bulls

BITSTAMP:BTCUSD   Bitcoin / Dollar
920 0 4
After the break out of the yellow resistances the price is staying above that level transforming it to support. This price action makes me trust the bulls for the next move. The shown scenario is unfolding like wave 5 (pink) with a target between the two red resistances. To be done wave 5 (pink) needs waves 4 and 5 (green) of 3 (blue) and than a longer correction for wave 4 and 5 (blue). Such development could take several weeks while we expect the results form Brexit, halving and let see how long will last the Chinese passion to invest in bitcoin . For ether investors is quite bullish too. Etherecoin doe's not seem willing to decline strongly with the rally of bitcoin anymore. The pair ETH/USD still has potential to grow. The pair ETH/BTC             probably has finished the previously described correction and I expect higher tops in the weeks to come. It's difficult to predict if ethercoin will be able to go up alongside with bitcoin but even if sometimes they are in opposite relation I believe ETH will manage to have a new historical top. With that said I think fiat is the less attractive place to be. for the next few weeks.
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