BTC wave 5 continuation

21 paź 2017

Without a significant retrace, likely we are still in a continuation on wave 5 and choppy since we are so extended in price here in retrospect. Likely target would be the 1.61 of wave 5 which could put us around 6800 and form a proper legnth'd wave 5. I would expect significant resistance at that price. I am unsure as to the reasoning of an insane amount of emotional capital that could push us further however will monitor as the story unfolds. Expect high volatility here since we are in severe price discovery mode as we surprassed all 2014 fibs. A couple possibilities on the short term which I will post in a different chart for good entries and exits on these swings.