Are We out of the Woods? Not yet, but heading there!
1D BTCUSD chart is currently completing 2nd Elliot wave (retrace range 8300-7800 USD), all indicators showing us the same - we are still in the woods playground range, don't be fooled by the 8700USD a day earlier, but slowly we get out, 3rd Elliot wave should start with an impulse candle, until we see one, bearish period will continue. Only impulse moves can determine anything including starting / ending a certain wave. I would say a 1D 10% candle should do the job.
How this can be related to Alt/BTC trading;
Those Alts that would like to start or started 3rd or 5th Elliot waves won't gain further until BTCUSD does it move, you can buy the Dips meanwhile when BTC range is below 8300USD and sell when it's above, this way you can get few % there and here.
We are playing a super manipulate game, don't let them fool you, in Crypto impulse moves really determine anything, till then, play it smart and be careful if you need the BTC right away and don't feel comfortable going long in a correction wave.
Disclaimer;
Above expresses only my personal opinion, this is NOT an investment advice, if you are interested seek a professional one.
How this can be related to Alt/BTC trading;
Those Alts that would like to start or started 3rd or 5th Elliot waves won't gain further until BTCUSD does it move, you can buy the Dips meanwhile when BTC range is below 8300USD and sell when it's above, this way you can get few % there and here.
We are playing a super manipulate game, don't let them fool you, in Crypto impulse moves really determine anything, till then, play it smart and be careful if you need the BTC right away and don't feel comfortable going long in a correction wave.
Disclaimer;
Above expresses only my personal opinion, this is NOT an investment advice, if you are interested seek a professional one.