Since the whole market has been strongly following btc, it is the most important factor for our next moves.
Looking at the bigger picture we had a parabolic move up, now followed by a strong move down.
The most important thing here we have learned is to take profit and to use stop-losses (so we can buy in again lower).
In wave count, we seem to have finished the abc correction, this means that a new cylce should start.
Though a lot of people in this market are scared, the opportunities are still here.
Right now we seem to have completed the first wave and possibly the second.
The opportunity here would be a strong breakout and bounce on the 9k resistance. This would confirm the 3rd wave and so the 10k target.
The most important thing here is to have a stop-loss as a move down is still possible.
To me this current move remains bullish until we break the current minor trend (orange)
When this happens I would be looking to see a higher low forming or even a double bounce (though i rather consider that chance small)
Looking at the bigger picture we had a parabolic move up, now followed by a strong move down.
The most important thing here we have learned is to take profit and to use stop-losses (so we can buy in again lower).
In wave count, we seem to have finished the abc correction, this means that a new cylce should start.
Though a lot of people in this market are scared, the opportunities are still here.
Right now we seem to have completed the first wave and possibly the second.
The opportunity here would be a strong breakout and bounce on the 9k resistance. This would confirm the 3rd wave and so the 10k target.
The most important thing here is to have a stop-loss as a move down is still possible.
To me this current move remains bullish until we break the current minor trend (orange)
When this happens I would be looking to see a higher low forming or even a double bounce (though i rather consider that chance small)