Here is AppY Crypto aigain, Now since we have seen the correctional phase of wave 1-2, it is time to build up some long positions into the 3e cycle wave, This wave is considered as the most explosive waves and therefore I have on the medium and long term a very bullish mindset. However, keep the fundamentals in mind. If global economy will suffer from the exposure on the real estate problems in china, it m8 get a bumpy ride. So always DYOR
However; in technical aspect, i'm still forecasting new ATH in the near future. So we are looking to close shorts around 40-38K and start to build our long poisitions. These long positions we will perform DCA till at least 30k. If we reach the new low, ( >29k) we have an invalidated wave count on elliot wave theory and we are forced to close these longs in loss!
So be carefull with your money mangement and always stick to the max 3-3 rule ( leverage and% )
So what you can see in this chart is a close up of the 1hour BTC chart. We expect still 1 more leg down, and from there we try to excellerate long towards a new wave high.