Bitcoin (BTCUSD): Bullish Case For New All-Time High

27 oct 2017

In my previous idea I warned against selling bitcoin unless it breaks below the key support @5420. I also pointed out that there is still possibility for another all-time high under extended 3rd wave scenario. This scenario is outlined on the chart. The break of $5500 should serve as a stop loss.

27 oct 2017

Nota

Detailed chart:

27 oct 2017

Nota

And the alternate, reversal scenario:

29 oct 2017

Nota

So far, so good. Such a clean entry from the 'Buy Zone'.

30 oct 2017

Nota

Meanwhile, price has hit the main target which is confluence of two pitchforks. I'm not very bullish at this point.