Bitcoin [BTC] - Update 31/05/2018

To the two or three people on this forum who are still interested and looking to share serious ideas and thoughts, here are my interpretations of what I think the next week might (!) look like based on the spike this morning.

The first one is the simplest one. We are simply starting a 3rd wave up. Not an explosive wave but one that is long because of a lot of sideways movement. That will be the theme anyway IMHO, as there is a lot of resistance between here and 11.6 (really) so progress will be s l o w. Wave 3s themselves have a 5 wave etc. Fractal within fractal. Look for the higher lows on the 4hr.

The second one is more bearish SHORT TERM but more bullish long term. It assumes we have not yet started our 3rd wave up, but that we are still in wave 2 and have completed the AB of the ABC correction. Deeper retrace (possible 7.1) but higher wave 5, possibly testing 8K. Also slow and lots of sideways movement.

Of course there could also be a massive pump if a large investor develops FOMO, but that scenario will explain itself. There can also be a massive dump of course, looks like the market defends 7.1 with a vengeance though, so that would probably be absorbed easily. Time will tell.

GL