I will stick to 8k, or just simply wait on five wave rally above 14k before we may say that lows are in. Check out video for more details.
Again, I would appreciate your feedback in the commentary box below!
If you have any questions let me know.
And remember, trade with your stops in place or you can go broke!
p.s. I have no position open, and this is not an investment advice. Please do your own research!
we have seen move up towards 13 k recently, but noticed that recovery is clearly in three waves, also retraced by a recent break beneath the channel support. This looks like a temporary bounced, therefore, it would be too soon to turn bullish. I still think new lows will be seen.
Also, when others will realize that BTCUSD is not that "slow anymore" traders will try to act on that breakdown, but it could be too late then as will be time for a bounce.
Hope the whole market will recover asap and enough losses :)
First is the price, 2nd is indicator. You cannot get price out of indicators, but you can get indicators out of price movement. Thats how most of indicators are actually working; they are calculated out of a price that why I suggest to focus on structures more than anything else. But of course indicators can be helpful, I also use them but only to confirm the price move,and not the other way around.
My theory is much simpler, we are simply going through a bull flag. We will touch the ABCDE of it and be done with the correction. Right now we completed C and working on the D.