Bitcoin has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Bitcoin began a wave one advance on January 12. The wave one finished on March 10, and the wave two correction ended on March 25. The wave three advance finished on May 25, and the wave four correction ended on May 27. If this wave count is correct, Bitcoin should be heading next towards the May 25 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Bitcoin is currently in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
In the monthly chart, Bitcoin is most likely in the wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin will takeout the May 25 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin will drop below the March 25 low".
If you think Bitcoin is in a range, upvote this post and upvote the comment "Bitcoin will stay in a trading range between the March 25 low and the May 25 peak until June 24".
You can upvote the comment until 3 PM EST May 30 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.