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BTC 5th Wave continues

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The 3rd wave continues as the 5th wave of that higher order 3rd wave unfolds. We've had our small consolidation and a fresh impulse wave has formed. It has taken us over 25k as anticipated but whether it will have enough steam to near 30k before a major correction is still an open question.

Holding on to established longs is justified but entering into a long-term position at this point not the best idea. A major correction will happen, it's just a question of the magnitude of this final push. A day position can be made but it have to be watched carefully.

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