Another one Bitcoins bullrun?
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As long as the red trendline will be unbroken, trend is clear (so buying BTC on retraces should give more than shorting). My drawing shows possible scenario for Bitcoins growth. Lenght of the 5th wave is not easy to predict. I opt for 6000+:)
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XEMJPY 4h chart. Do You see some corelations with moves of Bitcoin and XEM? Check also dates of highs and lows in this waves. That is intresting.closer look at intresting areas of XEMJPY
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If BTC will not break trough 4400-4500 area (on closed candles H1) then best option is waiting for long on deep retrace of wave from around 3600 (maybe 61.8Fibo and some trendline). If BTC will pass that area (less possible, as we see divergences on main indicators, especially MACD, but RSI and CCI differ each other too), retrace may not be so deep and even 23.6 Fibo will be good to consider long position (as in circumctances of wave 5th and her nature).tradingview.com/x/krcfi28N/[/image/
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XEMJPY simple image, no need to comment.BTCUSD, the same.
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Observing sideways moves on BTC and XEM is annoying, but market needs time to create formations to play with.I think now Bitcoin will do the same, that XEM does before in his correction, before trying to push higher.
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My thoughts will be continued here:
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that's my second TVs account;)Nota
I use both accounts, dependant i'am by stationary PC or mobile.
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