If you're looking to play a bounce then wait for an h shape to form. Certainly carries inherent risk since this is a falling knife. But there is a swing fail trade to the upside before continuing down if Bitcoin can close above $8,400 on the 4 hr and can form a flat to the upside. Which will create a great opportunity to short if you haven't already. Primary targets for a swing fail would be $8,700 for the 1:1 or $9,000 for the 1.618 if it's an expanded flat.
The most profitable thing you can do in these markets is to bet against market sentiment. The market makers will push you to the limit and you will feel uncomfortable as it runs the other direction, but hold to it. The market is not your friend, so bet against it.
This is not corrective - this is trending. The bulls have dropped the ball and the bears have control. The worst has yet to come. Will we see new lows in the coming weeks/months? Hopefully.
The most profitable thing you can do in these markets is to bet against market sentiment. The market makers will push you to the limit and you will feel uncomfortable as it runs the other direction, but hold to it. The market is not your friend, so bet against it.
This is not corrective - this is trending. The bulls have dropped the ball and the bears have control. The worst has yet to come. Will we see new lows in the coming weeks/months? Hopefully.
