Bitcoin
Long

The worst thing about trading.. up or down?

271
I have drawn two possible paths.

We are either on subwave 2 of wave 3, or subwave C of wave 2.

You can see that for some time, both paths can be valid. The only way to invalidate the green path, is if the price retraces back above $9070, which was the beginning of subwave C, which would never happen if we were on subwave C. But I bet you'd want to rebuy much lower than that if your sell point was not $9070.

The orange path is invalidated if the price goes lower than $8250. This is a huge margin of error to determine whether we're bullish or bearish. However, as the price keeps going lower and lower, that means the BTC price is retracing to lower fib levels, which become less likely if we were really on the orange path. The orange path is the bullish path, and would we really be bullish if we were retracing to fib levels much lower than 0.5?

This is the most annoying thing I hate about day trading. Especially BTC trading is so hard to do because it's 24/7. It's one thing to watch the price when you're awake, it's another thing if this is happening when you're supposed be sleeping which has happened to me so often.

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