BTC Stalls, but the climb isn’t over

Bitcoin 90 min chart. May 16, 2019.

Bitcoin is struggling a bit up here but so far has not made a lower swing high or low on a 90 min chart so must assume uptrend still intact for now. Still has to break through what I think is significant algo selling resistance directly above but if it does then its possible we go higher.

If it fails to make new highs then we may see the beginning of what I believe will be a rapid fall in price into wave 2.

I am seeing a rare signal on a fractal calculation that usually involves a very quick reversal in price and based on the fact that bull bear sentiment measurements are over the top bullish right now, which is a contrarian indicator, sometimes suggesting the reversal as well, now is a good time to be cautious. I think its likely we get a bounce back to 8000 or even 8200 before a big drop, even if the top is in, since we are coming off of a new high right now. If we can take out the high then the game is still on.

• Grog