Bitcoin Breakout
Solid breakout here, and looks like we are forming a mini inverse head and shoulders to go higher! This will push up altcoins as well... big thumps up!
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So we tested the breakout and have a new support level. Alternative route still possible here, which would make this a slow burn rather than the quick pace of action we say after leaving 3000 behind.Note
We may dip below support, but that will be bought up quickly!Note
So if i have relatively correctly placed our wave counts, it looks like we are in the process of a sub-wave 5 within the larger wave 3 structure. This means that we are dealing with a shorter wave than the one that broke off from the $2700 area. That would explain the lack of pace we have here as well with less money joining the market. We should also start planning for an A - E correction to unfold at the end of sub-wave 5. I cannot see us dipping below $3292.Note
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Still bullishNote
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.