Bitcoin is Starting it's Run! - TA (BTC)

What's up everybody!

The charts for BTC are looking very bullish.

1. Cup and Handle
   
   The cup and handle forming over the past month is about to contest its breakout point at $11,800. It looks as if BTC will break through this heavy resistance and continue higher.
   For more information on cup and handle patterns https://www.investopedia.com/terms/c/cupandhandle.asp

2. Eliott Wave
   
   Bitcoin looks to be riding on the 3rd impulsive wave of an Eliott wave. The 3rd wave is the longest of the 5 waves. Therefore, Bitcoin should still have more room to run before the 4th corrective wave.
   For more information on Eliott waves https://www.investopedia.com/articles/technical/111401.asp

3. Fibonacci Retracement Tool
   
   Bitcoin is following the Fib levels beautifully. At the moment we can see that BTC is breaking through its current level. We should look at the next Fib level, around $12,800, as the next key resistance level.
   For more information on Fib levels https://www.investopedia.com/ask/answers/05/fibonacciretracement.asp

Bearish Possibility

If BTC is rejected near it's current prices, we should look for 3 key areas of support. First the 50 and 100 day ma. The second being the 200 day ma and the 0.236 (red) Fib level. The last being the previous lows near $6000.
I do not believe that this is the case; however, investors should be prepared for every possibility.
I am not a financial advisor.

Conclusion
I believe that Bitcoin is still a buy at current prices. I have added to my positions lately at $10,800 and $11,000. With that said, it is nearing the middle of the BTC bull-run. The smart money have already bought Bitcoin. Be careful not to get in with the dumb money.

I really appreciate you taking the time to read my post. Please ask me any questions you have in the comments.