Finally!!!! Bitcoin is booming once again. Last night or early morning Bitcoin roared out of the gates and shot up around 10%. This massive jump has been a long time in the waiting. Now just like in my previous posts, I don't believe that this move will take out the all time high from December where Bitcoin was over $20,000.
Instead we should be making the C move in a running flat pattern.
As pictured in the chart, you can see the lines I have drawn in showing what I am expecting Bitcoin to do in the next couple months. It probably will not follow this chart exactly and it could break through that upper resistance line of the running flat it could keep going much higher who knows but you need to be prepared for one more big downside where we will see prices fall mightily once again. This is where we can double down and make a boat load of money by playing these next couple moves properly.
Also note on the first chart how quick that first initial impulse move was. There is almost no chance in catching it is taking off which is why I stated yesterday you need to be in every set up waiting for that major move. I don't see any major pull backs occurring on this move quite yet but be prepared to take profits if something occurs.