BTC confirmed its daily bear market move, along with a nasty sweep of the highs.
We've seen these developments before - even with sweeps.
Is there a result this time? I don't know. But we likely haven't seen the lows yet.
I don't think it's all doom and gloom. We are still in an exceptional position in the 1D+ timeframe.
We may even make a third high like last time.
For now, I think it's best to sit back and wait rather than charge in on what could be the first day of further impulses.
If we remove the div from here, I expect another sharp sell-off.
If we survive the div structure then things could get interesting.
I can't answer whether we do or not. But you can easily plot the relative returns on either side of the market.
We've seen these developments before - even with sweeps.
Is there a result this time? I don't know. But we likely haven't seen the lows yet.
I don't think it's all doom and gloom. We are still in an exceptional position in the 1D+ timeframe.
We may even make a third high like last time.
For now, I think it's best to sit back and wait rather than charge in on what could be the first day of further impulses.
If we remove the div from here, I expect another sharp sell-off.
If we survive the div structure then things could get interesting.
I can't answer whether we do or not. But you can easily plot the relative returns on either side of the market.