BTC FINALLY breaking out?
Updated
First of all thanks to @balocik for insight into this rising wedge (ending diagonal).
Inside this diagonal, my wave 5 could also be a wave 3 only and we have a bit more to go. I will short this when I see it breaking the wedge. Conservative target 10k.
This whole 1-2-3-4-5 since 6000 could also be an ABC, that's part of some larger degree corrective wave.
For the bigger picture, I'm not even trying to give the right count since there are so many different outlooks and I'm 100% sure every single trader is very confused, unless they're not objective and see what they want to see. Looks like many people are leaning bullish at the moment but yeah I just can't agree on that with the current situation. I wouldn't mind seeing BTC rise again but come on, lowering the resistance line is not breaking out :) I honestly don't know where this resistance line is exactly is, and it looks like no one agrees on that either but I know for sure we have not broken it (yet?).
My final target is 4k, unless we close this week above 12k (goodluck with that).
4k would really be an extremely good thing to happen for bitcoin in the long run.
It would set a very strong base and probably enter a new fase in it's cycle.
Comments are always welcome
Inside this diagonal, my wave 5 could also be a wave 3 only and we have a bit more to go. I will short this when I see it breaking the wedge. Conservative target 10k.
This whole 1-2-3-4-5 since 6000 could also be an ABC, that's part of some larger degree corrective wave.
For the bigger picture, I'm not even trying to give the right count since there are so many different outlooks and I'm 100% sure every single trader is very confused, unless they're not objective and see what they want to see. Looks like many people are leaning bullish at the moment but yeah I just can't agree on that with the current situation. I wouldn't mind seeing BTC rise again but come on, lowering the resistance line is not breaking out :) I honestly don't know where this resistance line is exactly is, and it looks like no one agrees on that either but I know for sure we have not broken it (yet?).
My final target is 4k, unless we close this week above 12k (goodluck with that).
4k would really be an extremely good thing to happen for bitcoin in the long run.
It would set a very strong base and probably enter a new fase in it's cycle.
Comments are always welcome
Note
The guy who liquidated his 500 BTC short position and drove the market from 11370 to 11500 in 1 second will regret his decision. Who's ready to wreck these bulls?
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