BTCUSD some practice

Been gone for a while laying out my thoughts on BTC
Sentiment isnt as good I think we will see more sideway action - but in the meanwhile i expect a deadcat bounce and 1 more down as we form a bullish RSI divergence in 1D timeframe that brings a bit more significant bounce.

Then after that I expect more slow drop/sideway action before we start to go up for the next cycle. I believe we are in Wave 4 for the big counts, but the wave counts are just a guide.

Instead of looking for specific peaks and lows - i find that counting elliot waves in trends and changing directions is better.

Fib levels and basic MACD and RSI indicators have worked out well for me.

Still just practicing so take my charts with a grain of salt.

Comment:

the 3000 mega resistance in the past may become the mega support/ final destination for this bear market. But who knows... personally dont think we'll go that low - anythings fair game however. Just watch the price action at the key price levels and make your trades accordingly.

For example I had stop losses set at 6100... and bought 50% back right now and have rest at 4900.

Comment:

if we dont bounce here we will probably bounce at 5000-4900 range.

Comment:

Going down to the 5000 support. Woot woot.

I bought in - 1D RSI is 13 lmao.

Comment:

wow this is fun, maybe this is the first capitulation sell off.

Enjoy the ride and bounce up. 1D RSI is now 11 lol.

Bounce here or down to 4400.

Comment:

I guess down to 4400... jesus... 3K seems so feasible now.