Looking at the log scale of BTC/USD it could be supposed that BTC did not reverse and we see just a price rally in a protracted correction (4th Wave) that can continue till the September'18.
In this period we probably will see several ups and downs and finalluy will see price of BTC at the 0,786 FIb level (round 4,5k).
Some people call BTC as CRYPTOGOLD, so I suggest to look at the chart of the real gold!
Looks like GOLD 40-ears cycle has finished, but the most interesting is that 4th wave finished at the 0,786 FIb level and then price went up. So, I suppose that we can xee the same scenario for bitcoin, but in much less term without need to wait several years.
In this period we probably will see several ups and downs and finalluy will see price of BTC at the 0,786 FIb level (round 4,5k).
Some people call BTC as CRYPTOGOLD, so I suggest to look at the chart of the real gold!
Looks like GOLD 40-ears cycle has finished, but the most interesting is that 4th wave finished at the 0,786 FIb level and then price went up. So, I suppose that we can xee the same scenario for bitcoin, but in much less term without need to wait several years.
Comment:
Possible shortterm price moving: