Bitcoin - approaching the first target of 4,500

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

BTCUSD - Daily chart updated on 24 December 2018

Login