-Bounce with follow through
-huge wick on Bottomed out candle- shows Buying. Even thou the indication is red, it really has a large amount of due to BULL buying. BULLs showing up.
- you could argue the pattern is currently forming is a raising wedge- which is a indication
- BTC Correction is probably not complete yet. If I was a large whale going SHORT, I would not stop the beat down yet, as I feel that there is more room to go south. Especially, when much less people will be watching/trading over Christmas and Holidays. Thin can make price move quickly.
More annoying is when, I can not move up trailing stop due to life. And instead of ending with small profit, or even, I end with small loss. Expensive play date with kids. :(
The difference between the greats and the average is profit taking. I'll get there ;)
If watching it live look for oversold RSI on multiple time frames. If 4 hour gets oversold or equivalent to oversold (based on past history of RSI), next look for reversal candle with confirmation- follow thru- green candle close and volume. Buy signal
If leaving trigger and sleep- set multiple triggers at different intervals. Goal is not hit all, but at least some.