A glance at BTC.
Right now, on this 4H timeframe, we're seeing this Demand be respected quite nicely. That is pretty much where it ends though, the pushes are quite weak, with the move overnight not attracting a whole lot of volume. In regards to the regulated markets, I was looking forward to Labor Day in the US which is pretty much today over there, so that space is going to get quite interesting if what I've heard of late it going to come to fruition.
As we've said previously, BTC isn't immune from the world situation right now & I think it's more than fair to expect the asset to decrease as I'm expecting most of the regulated markets too (in the way of stock, etc). This would comfortably explain the lack of buy-ups and volume.
As discussed yesterday, I think it's wise not to try and catch the bottom in any respect, if your trading the macro (Higher Timeframes) then it would be in your best interest to average yourself into the market at strategic levels rather then go in all the once & this is the same strategy we teach to eventually exit the market, taking small snippets at a time, to give yourself the best opportunity at success.
I did it personally, on the last major move from 4800 - 11k, averaging in around that 4800 - 5k and averaging out around 10 - 11k. It does work & it grants the best opportunity for macro scale success. We practice what we preach.
Right now, it is still looking weak, we really need to test the waters around that 10600 mark to create a HH scenario and continue, otherwise, we'll just be ranging between here-ish and Demand until we break in either direction. It could prove to be a decent range for Low Timeframe trading, otherwise for High Timeframe stuff (like I trade) currently waiting for that break and making decisions based off that.
Have a plan, stick to it, do not dwell on what could have been, have some skin in the game & try and be as disconnected as possible.
Right now, on this 4H timeframe, we're seeing this Demand be respected quite nicely. That is pretty much where it ends though, the pushes are quite weak, with the move overnight not attracting a whole lot of volume. In regards to the regulated markets, I was looking forward to Labor Day in the US which is pretty much today over there, so that space is going to get quite interesting if what I've heard of late it going to come to fruition.
As we've said previously, BTC isn't immune from the world situation right now & I think it's more than fair to expect the asset to decrease as I'm expecting most of the regulated markets too (in the way of stock, etc). This would comfortably explain the lack of buy-ups and volume.
As discussed yesterday, I think it's wise not to try and catch the bottom in any respect, if your trading the macro (Higher Timeframes) then it would be in your best interest to average yourself into the market at strategic levels rather then go in all the once & this is the same strategy we teach to eventually exit the market, taking small snippets at a time, to give yourself the best opportunity at success.
I did it personally, on the last major move from 4800 - 11k, averaging in around that 4800 - 5k and averaging out around 10 - 11k. It does work & it grants the best opportunity for macro scale success. We practice what we preach.
Right now, it is still looking weak, we really need to test the waters around that 10600 mark to create a HH scenario and continue, otherwise, we'll just be ranging between here-ish and Demand until we break in either direction. It could prove to be a decent range for Low Timeframe trading, otherwise for High Timeframe stuff (like I trade) currently waiting for that break and making decisions based off that.
Have a plan, stick to it, do not dwell on what could have been, have some skin in the game & try and be as disconnected as possible.