Loading ...BitCoin ATH Today
BitCoin broke out to the upside of a small Pendant Flag late last week and moved into a new ATH at $3,451 today but I have it on day 15 of its current Trading Cycle.
I show this as a new Intermediate Cycle so I am expecting both BitCoin and GBTC to go higher in the next Daily or Trading Cycle but I think we are close to a short term top based on the Time and Price action I am seeing today. Time will Tell. 😉
In Elliott Wave terms, I see this current move as the start of Wave 5 with the July low as Wave 4. The early June High sure looks like a Wave 3 up.
Here are a couple of posts from this weekend.
“In Elliott Wave terms, I see this current move as the start of Wave 5 with the July low as Wave 4. The early June High sure looks like a Wave 3 up.”
Agree on W3. Wave 4 could be complex, and I was expecting it to be.
But it could be W5 already, yes.
W5 will end large wave I, and wave II should retrace a large chunk of the initial ascent.
Wave III could be folks bailing out of US$, as BTC wave II down could correspond with last leg of dollar rally.
Pedro, Good to hear from you! Your point about this potentially being just Wave I of a much larger move is also my thinking especially if the USD has found its 15 year SuperCyle top as I have posted on. The start of Wave III after the Wave II low will be the spot to load the boat… 😉
Well Spotted Surf….You subscribers have been well informed on this beast.