#BTCUSD still overall bearish trend on the day

and no need to complicate things by looking at shorter time frames unless you're an intraday swing trader. Key aspect of the continue bear trend is shown on the chart. Waiting until we reverse and the chart supports it will make your entry higher, but you are less likely to get stopped out or lose money if bear trend continues.

The only thing that warrants reasonably sized buys are capitulation candles where you can play the bounce or use them to cost-average in. While I am long Bitcoin, it simply doesn't make sense to try to bottom pick in this market where clearly even positive developments don't bring in new demand, which is quite low currently.

Yorum:

Trend line is remaining respected so far signaling continued bearish trend. Will need to reverse going into the weekend or else we'll be setup to test 5s again.