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.
One question tho, if we see another drop, let's say it's 8k in this case. What is your opinion on how long will the price stay at this level, last time it touched 9,2k it almost instantly bounced to 10k?
I am asking because I'm afraid that btc could drop even lower and I don't want to get in on 8k if it drops even more. But on the other hand, I don't want to miss the shoot on 8k if its the lowest it can get at the moment.
Maybe my questions are stupid but I am only a few weeks in the crypto world and still learning.
How long do you people think when/if BTC drops it will stay on that level. This correction was too weird but there are many new aspects of this game we have to consider unlike in the past.
Also consider that all traders look at the same chart and make the same consideration, so... we'll see at 8k lol.