fxtrends

Bitcoin Extends To Fresh Record Highs

Long
BITSTAMP:BTCUSD   Bitcoin
Now that the high earlier in the week has been taken-out, after completing a 3-wave (ABC) correction, it appears Bitcoin is now forming the final (5th-wave) portion of a larger 5-wave structure. The 1st wave equality projection target is a few hundred points higher from current levels, in which price-action has seemingly respected the psychological 6000 mark as temporary resistance. If Bitcoin can maintain support by Monday's peak, it should have enough momentum to complete wave-5 of a (big) 5-wave impulse.

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