One major question to me as far as how to trade BTC is whether we are in a major market cycle crash (~80-90% retracement) or just a correction within the current long term cycle; albeit a big one.
From what I can tell, that question is still open.
I see in the charts a lot of effort expended to either:
a) maintain certain important price levels, meaning we are indeed in a correction and support is holding; or..
b) maintain the appeareance that we are holding those levels, and priming up for the major move down to test previous horizontal s/r levels from ATHs at ~4900, ~2900 or even 1189 if we are going for bloodbath.
I rather think we are only doing the appeareance part and so will tread lightly.
From what I can tell, that question is still open.
I see in the charts a lot of effort expended to either:
a) maintain certain important price levels, meaning we are indeed in a correction and support is holding; or..
b) maintain the appeareance that we are holding those levels, and priming up for the major move down to test previous horizontal s/r levels from ATHs at ~4900, ~2900 or even 1189 if we are going for bloodbath.
I rather think we are only doing the appeareance part and so will tread lightly.