Standard 5 wave impluse of BTCUSD, Wait for extension levels

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In daily chart , bitcoin is finishing a standard 5-wave impulse structure since March. And price completed wave 4 in mid Sep which is not lower than top of wave 1 near 3000 level.

Now let's wait to see if there is any extension of wave 5, and focusing higher target.Price actually hit 5837, 1.27 extension of wave 3 level then dropped down below 5700 just in few minutes. Now consolidating at this level.

If price regain power and stand above 5837, let wait to see if price still able to fly rocket high above 6000 level.

Watch out extension levels at 6284, 6927 and 8123 in Q4.

For more wave analysis , u can check my previous posts earlier this week.
Oct 20
Have u ever remember this chart?


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