Bitcoin price action? I'm on the sidelines.

For BTCUSD , right now I'm on the sidelines. Price action on the weekly timeframe is testing the bottom border of the yellow box (area of structure), and if/when it breaks to the downside, I'll be a buyer. Same with the upper border of the yellow box; if/when it breaks to the upside, and confirms, then I'll look to buying.

Basically, my bearish play is a DCA: if/when it breaks below 30K, I'll start adding 5$/day, regardless of price. If/when it drops below 28,700, I'll be adding 10$/day, regardless of price.

In addition, if price goes into the green box, I'll be adding large buy orders, with say, 10-30% of my capital, on different orders scaling down. I'll never use all my capital for trades, and always leave plenty for when "blood is running in the streets".

Long term (years out) I'm bullish , and the monthly chart seems to be printing a higher low. Medium term (weeks to months) I'm bearish, and the weekly shows a lower high and lower low. I will wait patiently for better prices. Either way though, I'm prepared to enter trades whichever direction the market goes.

I hope you enjoyed this educational only post. This is not financial advice in any way, shape, or form. Always consider risk management as 1st priority.