BTCUSD are we done with the downside? Possible but Caution
Preferred view is one shown on the chart afrer the intermediate high was taken (but still below 9,755)
Please check the video in related idea as the situation is explained and covers the possibilities here.
So preferred view (I don't hold the truth so market can do something different) is that cycle from the lows are mature in different degrees (1h, 4h) and therefore a correction should be expected. Should I sell? Certainly not! Should I buy lower, you know my position from a trader point of view, not ideal setup (prefer XMRUSD wich just initiated a bearish sequence in 15min).
Also remember that 9,755 is nothing but a soft resistance for now and I won't buy the break out. At the moment, the only option that would make me buy BTCUSD in 1h time frame is the one in the video where we complete a 5th wave red -5- from current level and correct the cycle from 6,427.
Take care!
Please check the video in related idea as the situation is explained and covers the possibilities here.
So preferred view (I don't hold the truth so market can do something different) is that cycle from the lows are mature in different degrees (1h, 4h) and therefore a correction should be expected. Should I sell? Certainly not! Should I buy lower, you know my position from a trader point of view, not ideal setup (prefer XMRUSD wich just initiated a bearish sequence in 15min).
Also remember that 9,755 is nothing but a soft resistance for now and I won't buy the break out. At the moment, the only option that would make me buy BTCUSD in 1h time frame is the one in the video where we complete a 5th wave red -5- from current level and correct the cycle from 6,427.
Take care!
