Based on various analysis by others, this is the strategy I have decided to apply to my trading. Wait untill we reach the buyzone, and then wait for price signals to confirm that we have a reversal. I have linked to the sources for my inspiration below.
Ascending triangle OBVIOUSLY invalid. Still heading towards our (c) in the ABC as first anticipated.
In memo: Chinas plan to move forward on crypto in national banks confirmed = possible scenario is that large players sell off, to buy really cheap before we can expect the market to see much more upside in wake of the Chinese buying in (again).
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and, apparently, Binance hack. Not sure what to make of it wit regard to the TA, but we have a bear flag forming. The size of the flagpole suggests 7.000 to 7.200 area
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Kissed 7350 in the buy zone, more downside probably coming. Believe we has to go further down before the bears are satisfied and adequately exhausted for the bulls to come back out and start gaining terrain again.