In my last update on February 15th, I stated...
"Bitcoin has developed a very clear upward trajectory that we have tracked all the way from $15,000. We are now in the target box for completion. The one caveat I have with my analysis is it is possible I was too conservative. The MACD indicator should be on negative divergence for completion and it is now showing we're on the verge of breaking out...again."
MACD did breakout and thus revealing the strongest portion of this advance had not happened as previously thought. We are now topping in a wave 3 which should provide a wave 4 retrace of sorts. For this trend to end, we look for one more high in a 5 wave pattern, that is completed on negative divergence.
"Bitcoin has developed a very clear upward trajectory that we have tracked all the way from $15,000. We are now in the target box for completion. The one caveat I have with my analysis is it is possible I was too conservative. The MACD indicator should be on negative divergence for completion and it is now showing we're on the verge of breaking out...again."
MACD did breakout and thus revealing the strongest portion of this advance had not happened as previously thought. We are now topping in a wave 3 which should provide a wave 4 retrace of sorts. For this trend to end, we look for one more high in a 5 wave pattern, that is completed on negative divergence.
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