Long Setup Finally Firing

About a month ago I wrote a post about the long setup developing in Bitcoin. While at the time I had no idea how long it would take to fill out the necessary waves and see the expected reaction, we finally have it. Today, that reaction has reached the next stage. We have enough waves to call the wave one of our third wave complete. This means I expect a local pullback into 2 of three. (labeled (2) ). Again this setup sets the tone for 2019. If it can climb to $5900, I see 2019 as a year of rally. This does not mean the bear market is over necessarily. However, it does mean we should expect more to come. If we fail to continue past the $4900 zone, then we may see new bear market lows.

See last post: https://steemit.com/bitcoin/@wildtrader/decent-bullish-setup

Note that free 15 day trials are available for our trading room and community on Elliott Wave Trader, where I am a full time analyst. You'll rub noses with professional, amateur and traders in the learning process, while getting trade calls and ongoing direction for the market. No credit card is needed for a trial.

Note none of my work including the larger body of work for subscribers is intended to be a trade recommendation a I do not know your financial means, or risk tolerance. These are valid setups that can provide return, if using tight risk management with stops.

Elliott Wave Trader