Bitcoin dropped briefly below $40,000 for the first time since August.
I will looking for buys after bullish confirmation - for me it will be 5-wave + 3-wave structure which will show impulsive bullish formation. This combo will allow us to buy in safe zone with fine stop loss leverage.
Yesterday I've took few risky short-term trades DOGE and AVAX which gave good profits ±150% x10 leverage, and tried to scalp long in SOL but closed with stop loss. I think today market will give us another good opportunities among altcoins.
Right now market facing fears from the debt crisis at China Evergrande Group and expectations that the upcoming Federal Reserve (today) meeting will signal a scaling back in asset purchases later this year.
Make sure you are following US stocks market situation, cause correlation between crypto and stocks back to high levels.
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Price slip below 41K , 5+3-wave structure was invalidated, so I am waiting low in 39,000 or maybe a little lower. Today China FUD making its deal, but on the Monday we probably will forget about it😉