As bitcoin has finished its correct from it's all time high it subsequently has formed into a contracting ascending triangle indicating a sharp increase once wave E has been reached which the analysis shows this having just happened. WIth momentum and RSI rising in tandem with the price increases supporting the analysis and long investment strategy.
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The golden cross between the C and D wave further supports the sharp increase uptrend. Another supporting indicator are the double gann fans where during the D and E wave (in addition to the wave that is following) have been moving out of the short time frame gann fan while reachin back into the stronghold of the 1/1 line of the longer term gann fann, thus also supporting an incoming sharp increase in BTC's price movement.
Comments
aakashbit
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Just to clarify Does, this mean it is not likely to touch E? and shoot up from here itself?
Intermarketics
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@aakashbit, I may have worded it weirdly but what it means is that wave E of the triangle has just ended, and since prior to the correction (ABC declining formation from all time high) the preceding motive wave was ascending then it implies that since Wave E has been completed that the subsequently following set of waves should be ascending, continuing the upwards trend of the preceding ascending set motive waves. In short, we're headed back up it seems according to the indications of this analysis.
aakashbit
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@Intermarketics, It Just Touched "E" :D now boom up perhaps. :)
aakashbit
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I rather wait till $2615, if it falls below that, perhaps, then it will be further down.
Intermarketics
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@aakashbit, that's what I'm thinking, but we'll see whether it's truly confirmed in the next days/couple of weeks to come to see what really happens, but i'm pretty confident that yes we are indeed in the first initial moments of a boom stage starting to form currently.
@Intermarketics, Phhheeuuuhhh, Crap, it was not the reverse Boom (I would have loved to see $2300). Perhaps, Time to kiss the >$2980 Mark.. Here we go.. Right??
aakashbit
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So it is indeed going up right??
Intermarketics
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@aakashbit, yea that's what this analysis is indicating