The chart is crowded but let me explain.
We are toward the end of wave 5 which is supposed to be short as wave 3 was extended. (Note waves in Blue)
Wave 5 is forming a (note the in dark red) which is the first sign when the price breaks above the
This also coincides with the pattern (darker Blue W shape) which is another signal
and are both signaling oversold conditions
This should bring the price above the 12K resistance around the end of May 2018 and it can continue climbing from there (See targets of the ) and wave C ( in green) will be the new wave 1 for the uptrend. Expected price around 25K when the trend is at the last wave (wave 5, many months away).
That is a ton of forecasting.
You can wait for different confirmation signals according to your level of comfort. Here are few examples to enter long at different levels of confirmation
1. after it closes above the
2. After it retraces back to hit the upper line of the and bounce up
3. after it breaks above the pink resistance line
4. after it retraces back to the pink line and bound up
and so on ...
Please note that I am not giving any trade advice blah blah blah
Let me know what you think
1. A good breakout has to be on good volume
2. if you missed the breakout because the price shot two high before you enter the trade, it will probably retrace back to lower prices and you can buy it then.
Caution: strong resistance around 9K