BITSTAMP Daily

ok, because of the extended wave 3 we really cannot expect much out of wave 5. the market reaching almost the 38.2% level at 6199 is good enough level to complete the impulse wave.

wave 5 is either already complete or may climb to 6538 but in either case i do not recommend to be long for your active trading. primary wave (circle) 3 can end at anytime so its best to be on the sidelines for a while at least until 3500 level

please watch the upper channel line that is where wave 5 typically ends (or close to it)