I just entered long with a stop loss at the local pivot low. On the 3 and 5 minute timeframe it looks like a 5 wave move up and a 3 wave pullback. It is tricky to see but usually when price makes a candy cane shape with a spike up, I count that as an impulse. Just from experience this seems to be the case. I'm taking a shot at it here because I like the risk to reward and my stop is fairly close. I would like to see another higher high put in here locally and the move up start. 29420 ish is my first take profit. Hopefully Bitcoin can make it. Lol. This is just an idea and I don't know what is going to happen.
