Hello, folks! I hope you are on the correct side of the trade.
I was looking out for a possible motive way up, but what I thought could be wave 3 withered. Looking at the 15 minutes chart that I use as a signal for my swing trades, I've noticed that recently there have been a couple of "fakeouts" that were followed by a price drop. What concerns me the most though is that today's very bad news coming from the stock markets met BTC on its way down AND very near a support area that has been tested a couple of times in the near past.
This daily chart shows a red line that connects the bottom of the two major previous bottoms, and price has breached it. I will short and I believe you should do the same. I think there is a higher probability that we'll test 3k support.
I believe we are going to text bottom soon though it will take some mouths before we get there, 2900 is the support level to watch i thing thats the bottom, which will be followed by consolidation. At that point vol should be watched and also we expect the golden cross to happen, at the same level.
barrbudo
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@Bella114, nice analysis! Just bear in mind that there is no guarantees. IF we get to the support areas we believe we will, maybe there will be consolidation/capitulation. That's why I prefer to react than to predict.