Bitcoin appears to have completed five Elliott Waves and is exhibiting bearish divergence on the MACD and RSI. In addition, the volume is only mediocre. These factors lead me to believe that Bitcoin will experience some sort of short term correction.
Note: The lower bound of the key resistance area is based of the bottom of wave 4 plus the height of wave 1. The upper bound is based of a 2.618 fib extension of waves 1 and 2.
Note: The lower bound of the key resistance area is based of the bottom of wave 4 plus the height of wave 1. The upper bound is based of a 2.618 fib extension of waves 1 and 2.