Despite the large correction to shake out the weak hands and overleveraged players, BTC is still essentially running sideways. Recall last year we were running sideways seemingly forever before the break out. Nothing goes up in a straight line. It's sometimes useful to put things in perspective. The breakout last year was around the $10K mark. We're roughly 5X that even with the pullback. That's still an incredible gain. So keep your eyes on the prize. I'm looking for a $120,000 target if the fifth wave is similar to the first.
Comment:
Lots of symmetry on the hourly chart starting around Apr 23. We look to be at or near at least a short term bottom.
