Is Bitcoin ready?
I have been way too busy managing my signal channel.
There has been a lot going on with BTC .
Many analysts have been predicting a massive bullrun at the end of this year.
And here we stand, almost at the end of 2018 as well as at the end of converging phase.
Whether it is bull or bear that will take over, there's no doubt that it is going to be a huge move.
Here is my primary wave count. I have interpreted the wave structure as WXYXZ with ABCDE correction phase at wave Z.
This count indicates that we are done with the correction phase and we can expect some impulsive waves.
Both and are very close to the resistance and we can surely expect some correction before piercing through the long-term .
Observing the past retracements, most of the up-going wave have retraced about 0.618 of the previous wave.
Let us see if we can break above the level which is around $6940.
A heavy momentum is expected once this level is broken.
It would be a nice strategy for conservative traders to enter after this level is broken.
My mid-term targets are $6940, $7100, $7587, and $8370 which have been deducted using the fib extension of the what is seems to be the 1st impulsive wave.