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Bitcoin Breakout

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Solid breakout here, and looks like we are forming a mini inverse head and shoulders to go higher! This will push up altcoins as well... big thumps up!

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So we tested the breakout and have a new support level. Alternative route still possible here, which would make this a slow burn rather than the quick pace of action we say after leaving 3000 behind.

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We may dip below support, but that will be bought up quickly!

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So if i have relatively correctly placed our wave counts, it looks like we are in the process of a sub-wave 5 within the larger wave 3 structure. This means that we are dealing with a shorter wave than the one that broke off from the $2700 area. That would explain the lack of pace we have here as well with less money joining the market. We should also start planning for an A - E correction to unfold at the end of sub-wave 5. I cannot see us dipping below $3292.

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Still bullish

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New Thread:

Trader6127

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