Read along while humming ZZ Top. This leg is formed much better than the blow off top leg 2 months ago. The only problem is volume is diminishing and that usually is a sign of the end. There are some contradictory indicators. MACD and RSI are showing this rally to has a little more room to grow. The angle of this leg is unsustainable and the price has broken through into territory which should display top side resistance. I would bet this part of the rally is more cup wall building and cups generally top below the left edge. Prudence would dictate that it's time to pull down some profit.
The wild card fundamental is the PBOC and a potential court ordered exchange failure at OKCoin. The Chinese government just wants to get their grubby dirty rotten regulation hands all over this.
I still don't think this is the cosmic moment for a colossal breakout. I am having fun with the ups and downs though. $900 by July is still in the cards although please note I was calling for $750 by February. I was only off by 30% but who's complaining. One thing is for sure, the main stream media is looking the other way. Not one peep about BTC approaching its all time high. Their all focused on the Trumpster and the street performers acting out the "cry-baby revolution".
In the meantime the Euro is still crumbling. Greek debt is making a comeback pitch. Bonfires are ringing Paris. Stockholm is in flames. And, here's a new one, high levels of radioactive Iodine has been detected all over the Euro-continent. Looks to me like someone farted out a dirty home made nuke bomb. Cesium is power plant, Plutonium is H bomb, Iodine is medical. Get out your Geiger counters its time to wand before you eat. All kinds of Panic going on.
The irony is the protest demanding Hollande resign because he's not the right kind of socialist.
So let's pretend Le Pen gets elected. Will the riots get larger or smaller? Right now it's rioter Vs government thug. Will it become rioter Vs armed citizens? Isn't that called civil war?
The MSM is trying to pin this on Russia. Why on earth would Russia radiate upwind? It would blow right back in their face.
investigator
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Break open the Champagne!!!!!!!!!!!!!!!!!!!!
oaksacorn
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The moment is upon us. On 4/23/2017, it will reveal itself full on....
investigator
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@oaksacorn, You are referring to the upcoming elections in France. I think this date is inconsequential. Even if Le Pen were to win, she would still have to contend with a largely socialist parlement and a bureaucracy of elitists. The true judgement day will be when the EU alliance breaks because Germany can no long afford to finance the debtor countries. The Euro will dissolve. It is inevitable but right at this moment it is a slow moving tragedy. It seems to me the more important election will be in Germany. Meanwhile, a quick end to the war in Syria may ease the EU problems somewhat.
I do agree that a debacle in the EU puts extreme positive pressure on the value of BTC. We just disagree on the time frame.
oaksacorn
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@investigator, Thank you for the feedback. I agree with you overall and Le Pen will have signifigant push back to pulling the plug. Keep in mind the "buy the rumor sell the fact" concept. Le Pen will cause enough of a stir along with the backdrop of Italy being so ready to do the same. This combined with the current technical structure (including a retrograde influence in April) will give rise to the next leg up. Le Pen will actually just ice the cake on projection. The piece being here is that Germany could no longer afford to finance the debtor countries long ago. It just has enough credit cards in it's pocket to delay the inevitable. When the inevitable happens, much of the move of the larger 3 wave will have already happened.
The irony is the protest demanding Hollande resign because he's not the right kind of socialist.
So let's pretend Le Pen gets elected. Will the riots get larger or smaller? Right now it's rioter Vs government thug. Will it become rioter Vs armed citizens? Isn't that called civil war?
The EU is doomed.
BUY BITCOIN. GET THE HELLO OUT WHILE YOU CAN. It's turning radioactive.
mirror.co.uk/news/world-news/brussels-attacks-suicide-bombers-targeted-7625911
thesun.co.uk/news/2907525/dangerous-radioactive-particles-are-drifting-across-europe-and-no-one-knows-why/
The MSM is trying to pin this on Russia. Why on earth would Russia radiate upwind? It would blow right back in their face.