We can never be sure of where we are going, but the best trader is the one who is best at figuring out what is most plausible!
Why do you think I'm telling you guys this? Because you should know trading is a patience-game!
We can try to navigate through a storm..... BUT sometimes it's easier to wait until the storm has subsided.
So what we are hoping right now is to see a big bounce on the double bottom (yellow circles inside the orange lines).
opinion it's still a waiting game. We are in a pennant now, which usually is a bearish sign after steep a downtrend. RSI and MACD still allows to go to around 6k, which is a double bottom, on 1D chart.
On the other hand I can also see arguments for we are done with our last 5th EW at 6,5k, and we are trying to go into reversal.
So even though I think, we most likely will go to 6,000 USD, I still don't want to enter a trade at this moment. We don't have to trade all the time. Most of the times, we in fact just want to wait. We still need more confirmation for a direction.
