Bitcoin is approaching the target zone for the first move up
As expected, bitcoin has made one more high and got close to the first target of 4,500.
It can stop here and start a corrective wave b down. But it would be so much better if it could at least briefly violate a very strong and important resistance of 4,500.
Such a break even on a temporary basis be a great sign that the bottom is in.
The ultimate goal for us is to wait a corrective wave b down to make a HIGHER LOW drawing an inverted head and shoulders formation.
That would be a great entry point for the coming rally in wave c off the low.
That rally may stretch to 6,500
It can stop here and start a corrective wave b down. But it would be so much better if it could at least briefly violate a very strong and important resistance of 4,500.
Such a break even on a temporary basis be a great sign that the bottom is in.
The ultimate goal for us is to wait a corrective wave b down to make a HIGHER LOW drawing an inverted head and shoulders formation.
That would be a great entry point for the coming rally in wave c off the low.
That rally may stretch to 6,500
