Good morning, I hope you are doing amazing! 

BTC is holding around $8200 and I would like to say few words about next potential move. Before that, I hope you are enjoying profit if you bought in our green area areound 7700-7800. 

This move that will happen in next 48 hours will be very important. Why?

Firstly, Eliot Waves could be impulsive and corrective waves. What is the different. 

Impulsive waves are made by 5 subwaves. 3 of the are going in the direction of the trend and 2 of them are correction to the general trend. On the other side, corrective waves are made by 3 subwaves. 2 of them are going in the direction of the trend and 1 of them are going against the trend. 

If this whole move from 6300 is an impulsive wave it means that chances for BTC are huge to go up in general. If this is a corrective wave, I would expect 5-6k area over the next few months for sure.

If price closes above 8500 it will the confirmation of an impulsive wave. If we didnt see that close we will have to wait for other confirmations. 

So, why I am mentioning Eliot Waves at the moment? Because I noticed that they are working perfectly in this uptrend and thats why I think BTC has to follow them in the upcoming days too. 

But, do not rely your analysis just on one indicator, charting tool or theory. On the other side, it is showing momentum on different time frames and targeting top bb on daily time frame currently ( 8600-8700 ) area. If we see close above top bb it would be huge bullish sign. But if we dont see that close I would considere that as a bearish sign and I will probably open shorts down to 8000-8200 because even if this is impulsive wave it should consolidate a little bit. 

So, am I in position? Yeah, I am in position. It is long position with stop loss below mid bb on h1. First target is top bb on h4. If you decide to follow that trade it offers you very tight stop loss and very nice target so risk reward system is perfect.