BTC momentum, as shown in the Awesome Oscillator, indicates that BTCUSD is still in Wave 3. Since price recently broke out of a symmetrical triangle, the current wave is evidently wave (5) of 3. Projecting wave (5) as a vertical thrust out of the triangle equal to the largest leg of the triangle, results in a target for wave (5) of 3 at 9,670. This is an update/correction to my projection based on wave 5 starting. The momentum indicator persuades me that we are still in wave 3. Wave 4 will then trace back down to about 7,500 (probably in late August) before starting wave 5 to new highs above 11,000.
