BTC is making its retrace now in the wave 4. This is how the patient win. Everyone was freaking out last week when we broke 8k that everyone had missed out.
As we have been saying, we need to watch this in stages and be prepared for both ends. We set our buys ranging from $7800 to $7300. Were hitting the $7300 catch zone now. We entered at $7833 and got some % gains over 8k but were stopped out at break even.
Will try to renter here again around the $7300 mark for a bounce. Remembering a full retrace will see a retest of the $6800 Support line.
At the moment BTC is losing support and is in the bottom of the 3 Hour green cloud, were hoping momentum doesn't roll over to the 6 hour also falling through the green cloud. We need to start holding some support here at these levels. we would expect a little bounce out but we still feel the bears are in control and we are a while off that bull run.
The big lesson.. Dont FOMO and don't chase. Be patient. Set your goals and map your strategy