BTC Midterm Idea. BTC wave 3 completed

13 de jan. de 2019

It seems like we have just finished Wave 3 from the Elliot wave count. It looks like we started working on wave 4. best way to play it is to take a long position to $5700 price target which using the fibonacci retracement puts it at the .50 extension(very likely to hit it). Also is a strong resistance area. If BTC goes below $3100 it means that we are still working on wave 3 and it has not finished yet. that is where Stop loss should be placed at. The bottom on BTC has not been placed yet. we have about another 3 to 5 more months of bear market.

thanks and good luck.