SUMMARY
Overnight, Bitcoin (BTC) has surged and put in a higher high. The below chart shows the workings of a fractal pair. Note the breakout and rise are not the exact between the two but the higher highs are.
Forward discerning the potential for an Inverted H&S as shown below. The impulse from the recent $6,500 level could help finish this pattern. The volume also, thus far, confirms. This is not the primary; rather an alternate to be aware of.
So, why isn't volume like surging? Is the curren volume level acceptable? To address these questions, look at the blue and white circles on the volume. Each were at monstrous levels and served to mark the bottom of a correction. After the blue circle event, volume went to steady state and that was sufficient to support a monstrous price rise. I believe the current volume level is acceptable and will attain steady state; sufficient to support another monstrous rally.
Shorter term shows a potential for the five impulse waves (blue) to complete. The white waves are only subwaves to the blue 3...very small degree of trend. Overal, expecte higher highs with minor corrections!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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