Alright, looking at the 4hourly for bitcoin we can notice a lower low with less selling volume compared to the 19th and 20th sell-off, also, the rebound has (so far) shown more strength. However, I shall not forget that the bigger picture remains in the downtrend. Since we broke the 6k support, BTC has decreased up to 40%. Far from expecting higher highs from here, I do have the impression that at some point we have to regain some of the doom drop.
From this perspective, which conditions would have to align for me consider BTC stable enough to go back to trading alts?
Anything above 3926 for the daily close seems good enough. Specially considering that volume at 15:44 is already as big as yesterday's sell-off. With 8h 15 min left, volume is guaranteed to be decent.
Our middle of BB and EMA 20 and 14 are rn about 30-40% away from current price. Positive.
If further selling volume appeared before the daily close, we'll study below entries. To be highly confident we shall finish the day right at the top of the candle, therefore, on top of 4k. On top of that, we'll let the first few hours of tomorrow to play out to have a greater picture.
The floor is stable enough for me to look into some alts positions. I'll be sharing them too when I get them done. For this entries I'll be looking into 15 min charts. Also, I will look into some possible 4h strict entries with very limited time-span duration trades. (better known as bounces).
Feel free to share your opinion with me! Looking forward to improving! I do not trade as of now with actual money, this is shared for self-education purposes and experience. Thank you!