teiseman

BTC/USD wave 5 in progress

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We expect a 5th wave up to complete an impulse wave off the low as a triangle preceded the last major downwave of the bear market, therefore an impulse wave up is likely.

Points to note in impulse wave off the lows:
Wave 2 was flat and long in time. Wave 4 is sharp and short in time. Wave 3 is 4.23 of wave 1. Wave 4 is fib 38.2% of wave 3.

Likely Wave 5 in progress. Wave 5's are often the strongest wave of the sequence.
First target is 11,222, second target 14, 444.
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