I'm still leaning towards this being our Spring. I was beginning to get worried if we didn't see something like we just saw with this pump to $6,400.
The Wyckoff Spring still isn't in the bag quite yet in regards to "CONFIRMED." We should expect a TEST of Support once more before going up. It's still POSSIBLE this could be a bull trap to load up some Margin Longs in the books; only to liquidate them later. So, be careful.
If you have not made entry yet, you might want to wait for a dip coming down. In other words, wait on a good dip when looking at the 4h or 6h TF's.
The Wyckoff Spring still isn't in the bag quite yet in regards to "CONFIRMED." We should expect a TEST of Support once more before going up. It's still POSSIBLE this could be a bull trap to load up some Margin Longs in the books; only to liquidate them later. So, be careful.
If you have not made entry yet, you might want to wait for a dip coming down. In other words, wait on a good dip when looking at the 4h or 6h TF's.
yep, this is sage advice, and exactly how i approach trading BTC now.
i find that action is much choppier now than years ago, and therefore i avoid catching knives in an attempt to catch the spring. rather, i wait for that first selloff attempt following the spring. once i see signs of bottoming on low time frames, i accumulate position and buy dips thereafter (as long as we haven't run my stops and shown weakness).
it's not as profitable as riding the spring, but it's less stressful and requires little babysitting. and that's important for me when longing in a bearish market. in an obvious bull market, i'm less careful.
Which is why we will have to pay close attention to the following time frames (TF's) [3h, 6h, 12h, 18h and 24h] to TRY to get an idea when the bottom is in the bag and a reversal appears to be obvious according to the indicators.
