Bitcoin - the pullback is over and the next stop is 5,000
In my previous post dated 13 Jan 2019 I wrote: "At this point the micro structure of that wave b is almost completed. One more push down to 3,520 would be a great buying opportunity.
As soon as that corrective wave b down finds its bottom I expect another strong rally targeting at least 4,990 . But it can stretch to 5,605 or even higher. "
The very next morning Bitcoin opened lower getting that expected push down.
Bitcoin stopped a little bit above my green target box and showed a nice bullish reaction.
We have enough micro waves to consider that wave b down complete. My minimum target for the rally in wave c of i is 5,000
That rally would complete wave i up. Then we should get anther pullback in wave ii down making a higher low.
As soon as that corrective wave b down finds its bottom I expect another strong rally targeting at least 4,990 . But it can stretch to 5,605 or even higher. "
The very next morning Bitcoin opened lower getting that expected push down.
Bitcoin stopped a little bit above my green target box and showed a nice bullish reaction.
We have enough micro waves to consider that wave b down complete. My minimum target for the rally in wave c of i is 5,000
That rally would complete wave i up. Then we should get anther pullback in wave ii down making a higher low.
