Retraced all the way to the .786 level, broke out of a massive downtrend line AND made a higher low before going sideways. Fiat inflation steering people to hedge into gold/silver once again?
So, is it silver's time yet?
I believe the Dec/Jan move was a 'macro' wave 1. Wave 2 was a WXYXZ correction - the last wave was a B wave that ended in a truncated C, this is not wave 1! Waves 3,4,5 will be included in the next move. Wave 2 was long and drawn out so wave 4 will be fast and sharp.
I believe BTC is finishing up a wave 1 structure. It may well break out through the major downtrend line (dating back since the last bull run). The wave 2 may come back down to test this downtrend line as support (this may also happen to be the 0.5 - 0.618 retrace of wave 1). After the wave 1 retracement and consequent re-test of major resistance/support, wave 3...