So I'm guessing PayPal had a good impact on the unexpected BTC pump. Its not often you see a chart break an upward channel... to go even further up!
BTCs pump has led to the top of a larger time frame channel, so i would be very cautious from this point. Especially with and RSI thats more overbought than fidget spinners in 2017.
EVENTUALLY, BTC will leave this channel to go parabolic, but I don't think we are there yet. See red line for expected price action.
Remember, each cycle gets longer and more stable, as price realization occurs.
Who knows though... It is BTC after all... AND if we are seeing impulse waves up, I can only count 2 so far.
BTCs pump has led to the top of a larger time frame channel, so i would be very cautious from this point. Especially with and RSI thats more overbought than fidget spinners in 2017.
EVENTUALLY, BTC will leave this channel to go parabolic, but I don't think we are there yet. See red line for expected price action.
Remember, each cycle gets longer and more stable, as price realization occurs.
Who knows though... It is BTC after all... AND if we are seeing impulse waves up, I can only count 2 so far.