Looking at the weekly chart, BTC is currently in a weird spot. It's possible that I'm late to this analysis, and we've already found our entry, but I don't think that's the case. If we close below the yellow zone, I would have confidence in opening my long at the black dotted line. If we DO break above the yellow zone, however, I would consider opening a very short term long to the green dotted line. Make sure your stop is worth it on that trade, otherwise you'll heavily regret it. No matter what scenario plays out, I absolutely believe 7500 is our top for this current wave. I really want to see us head to 5400 before we rally up, but I'm not sure if that's going to happen just yet.
Let's see how the weekly closes out before making any decisions.
Let's see how the weekly closes out before making any decisions.