COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC rejecting from downtrend resistance in the falling wedge , as well as daily EMA resistance.
We are now back to testing the low of the dump, which lines up with the down trending support of this pattern.
The bears still have complete control. In the video yesterday I highlighted some decent bull volume the last couple days that had caught my attention, and highlighted how the bulls need to prove strength to us with a high volume day and break of resistance.
Clearly this never happened, and no signals for bull entry were given.
The odds for another leg down are favored, and we are back to watching 4 hour EMA resistance on any bounce attempt.
If looking bullish we must be extremely picky and patient. Bulls who have tried time and time again to get in are just dwindling capital. I personally would rather miss the initial move off the bottom so I am sure the momentum as shifted, as opposed to continually trying to nail the bottom.

BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture.

BTCUSD D1 Long Term EW Analysis. Checkout the idea detail's and all the update's for the complete picture.
I find myself in your last sentance perfectly. I lost 75% of the capital this way ;-( But there were times it seemed good to enter, like 100% in a few days, how long should we wait, 1000%? But even 100% up were false hopes for the bulls long term :-(
jerry2000 jerry2000
There were high volume days before, and daily resistances broken, but longterm we all just lost in 2018/2019 (swing traders).
thanks Dan
+1 Reply
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