Bitcoin is Challenging the All-Time High

Bitcoin continues to advance like a rising river which slowly but surely overcomes each obstacle in it’s path.  Indeed, while it is surprising that the advance has not yet taken on a greed-fueled vertical ascent, the tepid and fearful, but relentless, advance has served it well. Advances can continue longer when they assume a more measured climb.

As these words are being typed, the asset has stumbled after hitting a 5th arc on a 4-hour chart. That is not surprising.  The surprise will be when/if the 5th arc folds before continued buying pressure, like so many resistance points before it, over the past few weeks.  Usually, I view 5th arcs as points to “expect” a reversal.  But somehow, I feel it more likely that the arc will yield over the next several hours.  Time will tell.

Still however, it is an axiom of this business that corrections must come sooner or later, even if they are just small ones.  The age-old question looms: “When and where will the next (relatively) significant one occur?” Read more ... source: CryptoCoinsNews

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