If this holds true, we're in Wave C of B. Whereby retracement to $5k level, takes place around Nov 17-18.
This is more inline with Tonevay's predictions for BTC $5k.
A few things are on the cards right now though:
1. If you draw a parabolic indicator, you'll notice that $5.5k was the last bounce off the parabola. So we may not see $5k, and instead an early bounce around $6k.
2. BCC is currently holding a lot of BTC . If Bitconnect goes bust, it will be a perfect market storm to drive BTCUSD prices below $5k. The ensuing chaos and fear will drive speculators out from the market.
The safe strategy now, might be to buy the breakout at BTCUSD $7k, above the Fibonacci resistance line. Tonevay is entering at $7.5k because he sold around there, so for him it's fine.
The daring strategy for me would be to catch BTC around $6k, parabolic bounce, if you do this, I'd recommend no more than 50% of your liquid assets, that you're prepared to lose.
FA right now (market sentiment) is rather weak for BTC , even though general consensus is that BCH is trash, and Segwit is the better solution for scaling Bitcoin .
We don't want to trade against the market, even if we may hold BTCUSD (Segwit) in high-regard.
BTG has some good promise, recommend to HODL your forked coins.
My scaredy-cat strategy if I miss all the above entries:
1. Buy above breakout from $7-$7.5k
2. Wait for BTC to form strong support at $5.5-$6k, then buy
3. If BTC breaks $5-$5.5k, re-enter around $2.2k, definitely market will be in super-panic-mode.