Bitcoin Rally Is Just the Beginning

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Well, what a difference a day makes, as the saying goes….Those who follow this column regularly will notice that the 8-day chart looks different today.  I noticed last night that if the bull setup is expanded to begin at the end of the bear market in Jan 2015 and sized to the downturn in July of that year, the last green bar closed EXACTLY at the 5th arc.  I wish I had been using this setup all along, but hindsight is 20/20 of course…

In any case, at the very end of the last column I suggested I was done with the bull trade for now.  Like everyone else, I wanted to ride the wave all the way to the top, but the risk of a significant downturn was too great to justify staying long.  As it turned out, that was almost the exact high at 1150.  Better to be lucky than good, they say.

So, what’s next?

Long

Read more ... source: CryptoCoinsNews

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