The play for the BTCUSD pairing is for a long entry to be made if we see a wave I upward that moves in an impulsive manner. The entry would be around $9300 (which is where the proposed wave II would be) with a stop-loss slightly above the recent low in the $9000 area. The reason the stop-loss would be put above the low of the move is that if we do see impulsive action upward, then a retracement of 100% for the wave II would indicate that according to Elliott wave rules that it is a failed motive wave and implies that there is more bearish downward selling pressure and therefore a likely further retracement in store for bitcoin in the immediate future. As always, taking profit on the way up is advisable and reloading on a position at a wave IV area (as is diagrammed on the chart) to ride up for the subsequent 5th wave can occur as well. The first target for this play is at $9700-$9800, the second target is at $10200-$10250 and a third more bullish target is in the $10350-$10500 area. In addition, exercise caution in the market by playing with position sizes that are not over-exposing you in the space, as recently the market has been somewhat unpredictable. Short-term: Neutral/bullish Medium-term: Bullish Long-term: Bullish.