Should we consider that the BTC price has turned around and a new bullish cycle has begun?
Should we consider that the price of BTC is still at risk of decline?
The answers to both questions are the same: yes and yes.
The day before I took an ambiguous position in the market: I opened short sales, but I also opened long positions.
The market structure was telling me it was mixed: on one hand some coins made great patterns to sell (like OPUSDT), but others had good patterns to go long (like BCHUSDT).
I calculated that some positions will be closed with stop losses, and the other positions will compensate for the losses.
This happened.
What conclusion can be drawn?
You should always have a "just in case" plan and follow trading rules, regardless of other people's preferences or the media.
Regarding the BTC price
Anything is possible in the markets, even things that seem impossible.
I have adjusted the wave count according to the current changes.
Locally, the timing says that the market bottom has been established so far after all; it's not that simple, but it's worth looking ahead and planning a trade according to the rules.
I believe that only fools and short-sighted people stick to one side of the market. It's very costly in the long run; especially when opinions don't change very quickly, according to the new rules of the game.
Good luck to you, and take care of your assets.
Best Regards,
CEO Tornado Capital
Should we consider that the price of BTC is still at risk of decline?
The answers to both questions are the same: yes and yes.
The day before I took an ambiguous position in the market: I opened short sales, but I also opened long positions.
The market structure was telling me it was mixed: on one hand some coins made great patterns to sell (like OPUSDT), but others had good patterns to go long (like BCHUSDT).
I calculated that some positions will be closed with stop losses, and the other positions will compensate for the losses.
This happened.
What conclusion can be drawn?
You should always have a "just in case" plan and follow trading rules, regardless of other people's preferences or the media.
Regarding the BTC price
Anything is possible in the markets, even things that seem impossible.
I have adjusted the wave count according to the current changes.
Locally, the timing says that the market bottom has been established so far after all; it's not that simple, but it's worth looking ahead and planning a trade according to the rules.
- The price can continue its bullish cycle with prices reaching above $33,000. For this case, it is worth planning a trade according to the rules of trading in impulses.
- The price can continue a bearish cycle too. It is worth being careful and keeping in mind that for now the price is in the risk zone (possible bear market cancellation level is $33,000).
I believe that only fools and short-sighted people stick to one side of the market. It's very costly in the long run; especially when opinions don't change very quickly, according to the new rules of the game.
Good luck to you, and take care of your assets.
Best Regards,
CEO Tornado Capital
