The attached chart is IMPORTANT to BOTH Bulls & Bears alike. While the Bulls have been flexing their strength off of the $28.8K Low, that I have repeatedly mentioned was THE LOW, the area that $BTC is fast approaching will determine the "Winner" of the Bull and Bear debate. Now some could argue that their could still be a "Double Top" argument, from a technical standpoint. But for me the area between the .618 and the .786 Fib is THE MOST CRITICAL for Bulls to get over and for the Bears to defend. If we FAIL at that area, it would NOT SHOCK ME to see a correction to BELOW the .5 Fib. Then we will need to have a totally different discussion. BUT....If the Bulls manage to pull off the move OVER this area, All time Highs are all but baked in. It would be at this point that we need to start measuring our 5th wave targets and attempt to determine a proper exit strategy from crypto positions. I STILL MAINTAIN THAT THE TOP ON $BTC is at a MINIMUM $74K!
JT