We are reaching a critical point for BTCUSD
. If we assume (as I do) that we have completed the first wave up and are currently retracing into the 2 Wave there are several levels that would provide a good entry. The majority of Wave 2 corrective structures retraces to a .5 to .618 level - therefore providing us with a great entry to shoot for at least a 1 / 1 of the full wave 1 but more likely a 1.618 upward target for Wave 3.
A potential stop would be offered by a overcorrection of the .618 to sub 8k USD levels.
Please do your own analysis before entering any trades. Good Luck!