tradingview.com/chart/wRF9o5LV/ I've been trading BTCUSD since the top and have found the two major MACD divergence patterns to be useful when determining a reversal. I don't mind missing out on 3-6%, maybe even 10% gains when there's an overall increase of 133%. It's impossible to be right all the time at the exact highs and lows. Once I know there's confirmation behind the momentum it's easier to take a position. The same goes for downward losses. I'd much rather lose 5-8% on a limit order before a 54% drop in price.
I think BTC is going lower with swings on both sides of developing trend lines until it confirms a solid base. Until then I'm looking for confirmation like the last two MACD divergence patterns.
Nota
critical that BTC holds support between 42,000 and 39,500 or I believe there will be a substantial downside where BTC may remain below 40K for a period.
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