My viewpoint remains the same! Bitcoin has completed an A-B-C correction (in red), and naturally upon completion, there is a counter trend rally, which can occur in a multiple of ways: violently up or crawling up...no matter what, it's UP! Over the past week, Bitcoin has been building a high base formation, which is basically a push higher and then followed up with sideways pricing, which is similar to climbing Mount Everest with several base camps along the way, in order to acclimate to the new conditions. When the base camp is completed, price will continue to climb the mountain. At the current pace, I think that price will continue to pursue higher into May 2019 before reaching a pinnacle, and I have targets placed accordingly, if price moves violently, it could happen sooner.
I have posted my version of the 2014-2015 Fractal, which supports this move higher, and while I believe fractals can be powerful, I also believe that they can be dangerous, which is why I am using additional TA to support this move higher. Using Gann, if price moves above the 4/1, it'll get interesting!!!
Regards!
I have posted my version of the 2014-2015 Fractal, which supports this move higher, and while I believe fractals can be powerful, I also believe that they can be dangerous, which is why I am using additional TA to support this move higher. Using Gann, if price moves above the 4/1, it'll get interesting!!!
Regards!
Comment:
I'm sure at the time, this was "un-thinkable" for many, but as you can see, I told you that this move UP would be relentless, and it is! I also mentioned that if price had conquered the 4/1 Gann line, it would get interesting, and it did. Now, the question is, will price be contained by the 8200 target, or will it pursue the extreme target area, which I am now calling for it to be $10,911?