All information can be found on the chart.
Wrong. Buy low and sell high, the price is low folks. This is where you buy, and here’s why I think we’ve seen the temporary bottom:
a) The 1-ATR specifies the volatility for each candle. After we have seen some extreme volatility in the candles yesterday of values even around 700, it looks like the volatility is back to normal again.
b) Besides the volatility itself, we can have a look at 14-RSI which describes the momentum. After seeing values of extreme overselling, reaching as low as below 20, we now see that the RSI has returned to a very neutral position of 45.
c) The fibonacci retracement shows that the price has found support exactly inside the golden pocket. This is an area where price traditionally reverses, something that we can witness on BTC/USD right now.
I suggest to buy this dip and go long for a great profit potential.
Basically I toned down the bullishness a little bit as we have seen that the price did not bounce that quickly. Even though it's in line with this idea I still extended the channel to give BTC some more time to consolidate before we start the next bullish uptrend.
Crypto scanner on Telegram (8600+ members):
Forex + GOLD scanner (1000+): https://t.me/ForexScanner100eyes
On the content, it's definitely risky trading a falling knife. It's easy to get stopped out by a sudden wick down, or get a second or third large move before the price found the real bottom. I would not go all-in either, but I personally joined this trade as well. I think there is great upside potential (19% as you can see from the chart), so I am willing to try and enter a few times and lose a couple % when I am wrong each time.
What do you think?
I agree with you, there is potential for a bounce here and we can definitely trade with the right management and plan.
Keep up the amazing work you are doing... Your contribution to the community is highly appreciated.