UPDATE: BITCOIN JUST SET A NEW ALL TIME HIGH ABOVE 4600
Bitcoin has broken out of a Bull Flag and is looking very solid right now - currently 4475 approaching all time highs just shy of 4500:
I remain long from average of 4150 looking for an imminent break to new record highs. Let's zoom out to the daily:
As you can see, we have channel top/261.8 confluence on September 1. I think this is a little ambitious, but maybe not. As I said earlier in the month, as long as this channel holds, we are going to 5000 sooner or later ... and at this point it is looking like sooner rather than later - the recent correction could have been a lot deeper and it wasn't - the channel floor wasn't even tested.
Beyond 5000, we have the 200% extension of the recent correction at 5385, which also just happens to line up with the 300% of the June-July correction. Beyond there, we have the 261.8 just shy of 6000. Sky's the limit really.
Congrats to everyone who's ridden this up from 3K with me - I'm kind of struggling to measure targets and type right now so I'm just going to leave it there and go and watch it rip XD
20% of the liquid rewards from this post will be split with for the communal benefit of TeamAustralia
Team Aus footer by the amazing