BTC confirmed the daily bear trend, while also making a nasty sweep to the highs.
We've seen these developments before - even in the context of a sweep.
Are there results this time? I don't know. But we may well not have seen the lows yet.
I don't think it's all doom and gloom. We are still in a special position in the time frame above 1D.
We may even be on our third high like last time.
For now, I think it's best to sit back and wait rather than charging ahead on what could be the first day of further impulses.
If we remove the divergence from here, I expect another sharp sell-off to occur.
If we survive the div structure then things could get interesting.
I can't answer whether we do. But you can easily plot the relative returns on either side of the market.
We've seen these developments before - even in the context of a sweep.
Are there results this time? I don't know. But we may well not have seen the lows yet.
I don't think it's all doom and gloom. We are still in a special position in the time frame above 1D.
We may even be on our third high like last time.
For now, I think it's best to sit back and wait rather than charging ahead on what could be the first day of further impulses.
If we remove the divergence from here, I expect another sharp sell-off to occur.
If we survive the div structure then things could get interesting.
I can't answer whether we do. But you can easily plot the relative returns on either side of the market.