All- I want to be crystal clear about something regarding the B Wave article last night. I know many of you are going to want me to ring the bell on the all clear. I can see it in the questions asked. I may not be able to. BTC often puts in very shallow wave 4s. I don't know any other asset that does like BTC. That often makes a five wave rally look like a three wave rally. I have to hold BTC to EW standards, but I also have intimacy with how it is often structured. I have thought many times we had a B wave and it just took off. I will buy in support indentified regardless. I am also holding a core long position, until catastrophic support is broken. Unfortunately that is down at $3945, so that core needs to be light here.
I say this not to tell you how to trade. You need your plan to fit your style, life and wherewithal. But I don't wish to hear later 'you said it was a B'. No, if you read the article, I am saying it CAN be, and what right now I'm watching for.
Further, the Mt. Gox Bottom formed off a confirmed three wave rally that led to a diagonal. We may see that here as well.
HAPPY TRADING. Markets are still tricky with EW in our toolset.