Bitcoin Path ahead - 20 Feb 2018

Bitcoin is about to complete its 5 waves of the up move from the low made at 6000.

Wave 1,2,3 & 4 seem to have completed and Wave 5 is in progress. These 5 waves can be seen in the chart below.

This chart shows stiff resistance in the 12 - 13k region, closer to 13 k because:-

(i) The long-term head and shoulder pattern seems to still be in play which could be an important aspect in the next few weeks to come.
(ii) This is in line with the neck of the left shoulder formed earlier before the dip.
(ii) This looks like the completion of Wave 5 of the first upward correction Wave A.
(iv) Wave A completion date around 21-23 Feb

One of the likely paths post completion of this would be:

(i) A retracement back to the 9150 levels (for Wave B).
(ii) This would also complete the Head & Shoulder Pattern. This pattern could be verified if we see large volumes at the completion of Wave B.
(iii) Approximate date - 27 Feb - 02 March.
(iv) The subsequent Wave C could take BTC to 17 - 18 k.

Do let me know what you think in the comments below.