Seeking Alpha: We should be completing this rally in Bitcoin in the near term. We expect a correction to begin shortly.
If you have followed us since December 2018, then you know we were expecting a major bottom in the cryptocurrency market, and expecting 2019 to be very bullish. In February we wrote an article suggesting an imminent wave two bottom, which proved correct, holding support by $10 on some exchanges.
We suggested then that a third wave would commence, thrusting Bitcoin prices much higher. The only part we got wrong was that our targets were exceeded in the third wave. That happens in strong bull markets. So in May we updated our target for Bitcoin to exceed $10,000 before it completed this rally. But we were 100% right about a bullish 2019 so far.
Now that we are over $10,000 we must provide readers a warning. We have five waves complete off our December low, so a correction should start imminently. While it is still possible Bitcoin can push up as high as $13,000, a correction is overdue. Few are bearish, and suggestions that this parabolic rise have just begun to fill the news.