This attempt is for a bit of fun and to see how far I am off when I look back to this. Its also a way to gauge your TA work at the macro level and learn why you saw things that way.
Now, I believe we are doing wave 3 to 4 which is usually after a easy run to the top with lots of profit. Wave 3 to 4 is usually complex and its the time where many lose their $ in trading and also where many would have cashed in.
Clues? RSI over extended on the DAILY Price got rejected at one of the x.618 goldern ratio, exact, very similar to BTC's rejection at 42K and that 10k range is what I'm expecting here. Price all over the place.
Either way, I believe we are now doing a correction for the ALTs with the ABC wave.
How I trade this? I don't. I have already sold roughly at the top, yesterday and looking to just trade where there are opportunities and confirmation the bottom is in.
@ssari, As in for today. I think I will wait till the end of this cycle. Thank you so much for your informative posts :)
ssari
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@mohamedshoier8999, after a drop like this, there is a bounce, but then it will retest the same bottom before it goes up.
Since I have BTC ranging here, or drop, its likely the Alts do the same.