Right now, I am counting with two possible scenarios :
1) Bearish (I am giving this scenario like 70% probability) : We are still below 21 daily MA and I don´t really like current bounce, I don´t see there any clear 5-wavish structures, that would indicate, that we are back in uptrend.
2) Bullish (like 30% probability) : It´s entirely possible, that corrective cycle is finished and price will soon break 42k.
On bitmex, longs are slightly in majority, I would love to see more bullish/bearish ratio. As I said, I am currently more bearish than bearish, but even if we had one leg to the downside, we should eventually get above previous all time high at 42k. But I would rather be buying at 28k, but we may not get there.
1) Bearish (I am giving this scenario like 70% probability) : We are still below 21 daily MA and I don´t really like current bounce, I don´t see there any clear 5-wavish structures, that would indicate, that we are back in uptrend.
2) Bullish (like 30% probability) : It´s entirely possible, that corrective cycle is finished and price will soon break 42k.
On bitmex, longs are slightly in majority, I would love to see more bullish/bearish ratio. As I said, I am currently more bearish than bearish, but even if we had one leg to the downside, we should eventually get above previous all time high at 42k. But I would rather be buying at 28k, but we may not get there.