Over the last few week we have completed what appears to be waves A and B of an correction. Bitcoin's last two corrections have corrected to the .786 but this B has fallen short of .618 which had me expecting further correction until this morning.
We are currently sitting in a at the 9600 level that should break up toward the 9840 level, this should complete a of wave 1.
From there a retrace to the 9100 level should take place as the market is getting oversold on .
Using fib extension gives us a target of 1:1 at 10700 for wave 3. This also happens to be the edge of the . This would be an ideal area for a correction which would be wave 4.
Finally with BTC last push up we should experience a flurry of buying as we break the and push wave 5 to the 2.618 ext. level at $13,000
We should then see a correction back to the .5 retrace which is also the outer edge of the (our now neckline of the ) confirming the end of the downtrend and setting the base of wave 2 of the larger 5 wave as we make our way back toward $20,000.
As always I'm still new to trading so these are just ideas I see please don't take them as advice on how to trade.