Step 3: Resting
Now that your dough is smooth, elastic and activated, fold it in quarters a final time, making a big loose ball. (You want the air pockets to stay in your folds.)
Put the ball in a lightly greased bowl, and roll it once to coat the bread with butter/crisco/your fat of choice.
Cover loosely with a lint free tea towel, and put somewhere warm and draft free to rise.
(I usually turn on my non-convection oven for a minute or two to get the temperature to about 98 degrees F (37 C), turn off the oven, and pop the big stoneware bowl in there. Make sure you don't get it too hot though, or you'll start cooking the bread. You don't want that. An accurate oven thermometer is a big help here if you don't have a digital readout.)
Rest the dough for about an hour, or until it has doubled in size.