Bitcoin (BTC) Morning Update: What's the Significance of July?

SUMMARY

For Bitcoin (BTC), the MACD indicator has become a strong friend in providing the early indication (red histogram) and the lagging indicator (white line). The higher lows of the histogram was very indicative from very early that a trend change was at hand. I believe the MACD will support the rally into July and as higher lows and incremental higher highs are posted; it'll likely generate an upward pointing wedge. The wedge will apex into July/August timeframe. Then, another sizable correction of 50% to 78% could be probable. How does this fit into price?

I believe we recently finished wave 2. Which wave comes after 2? Wave 3 and that could be starting now. Since wave 3 is usually the most extended and so moves most violently; it would provide a site to behold in the coming weeks. This is why I believe the month of May could be jaw dropping. Wave 5 could likely go into July/August and when this wave completes; it's when the sizable, requisite correction onsets. The bigger picture is to look at the bigger degree of trend waves. The first five waves become subwaves to a higher degree of trend wave 1 (blue) and the upcoming Summer correction would mark the blue wave 2. Then blue wave 3 could be the pathway to six figures. There is also a bearish alternate count; however, this won't be discussed until the waves and MACD and pattern indicate that direction.

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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