This is an update of my previous BTCUSD idea, which worked out quite well.
There's not much to say besides that I consider a long position at the previous lows (~18k). The downwards movement needs to be completed and we want clear signals for a change in the secondary trend. I'm looking for Engulfing Patterns on the weekly & monthly or using the RSI & ADX to get a feeling for possible trend changes.
On the H4, price seem to be in a descending trend hence we are bearish bias- we're looking at a potential breakout at 18546.84 where the previous swing low sits to bring price down to 17592.78 where the 127.2% extension sits check out our analysis