The bitcoin rally is not occurring because everything is awesome! Bitcoin is on a scream to $5000 USD because everything is not awesome, and it can be said that this event is the dawn of change for world fiat currency system.
Point and Figure charts are excellent for price forecast from phases of accumulation (and distribution), the forecasts are not a point were price stops, the forecasts are zone were to watch out for a change of character in price action to be aware that supply (or demand) may enter the chart.
The thing about accumulation is that the large players cannot hide their actions, the big boys do leave foot prints, because they have more money than most their actions do paint the chart. Also they do not want to move price too high too quickly as it is against their own goals of accumulating coin. The big boys need to move in stealth, slow tight ranges before price breaks out and the price move hits the front page of social media and the public, because by then it is too late to accumulate as the public crowd the BIDs.
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By Readtheticker for Safehaven.com