Looking at a smaller time frame now as I try to find my next entry. As I said in my last 2 ideas, I think price can go lower in this pullback, but I don't want to miss the next rally. I'm going to take a small long position at 8900. Entering very slowly, just 1/5 of my desired position. I will buy another 20% each $1000 lower. 7900, 6900, etc. If price turns up at 8900 (i don't think it will), I will buy more with different entry criteria. Before I enter this trade i want to see the stochastics oversold and crossing upward on the 60min chart.
Why do I believe that we'll find a higher low:
1. I think there was capitulation at the 6k level.
2. I think we just had wave a of 5 (elliottwave) and I want in on the c wave as it will likely be the strongest of this move.
3. I think
BTCUSD
is ultimately going higher.
Why do I believe that we'll find a higher low:
1. I think there was capitulation at the 6k level.
2. I think we just had wave a of 5 (elliottwave) and I want in on the c wave as it will likely be the strongest of this move.
3. I think
BTCUSD
is ultimately going higher.