Bitcoin – Jan 20, 2018

Above is the daily chart of Bitcoin, from Realizing that I don’t have access to a long history (because there isn’t one), which makes EW labelling somewhat dicey, here’s my take on where we are.

I put us in the fourth wave with one more wave up to go to a new high. The waves up are impulsive, by the looks of it. After a fifth wave up, we’ll either see a drop to a second wave 62% and then another larger wave up to new highs, or a complete capitulation.