--Just like the USOIL slump recently.
That is, I don't really buy the concept that noobs always chase high and sell low these days; for my observation, it's totally the opposite way!
The time when I'll look for buying opportunity in a downtrend MUST BE a significant larger time frame set-up;
otherwise, whenever there is momentum, my only thought is to participate the direction of the momentum--
"Even selling low is much smarter than buying the dip in a downtrend without larger time frame set-up."
In this BTCUSD example, the larger time frame has this pattern spotting at near 3000 spot.
That is, before it reaches there or a very strong rally to change the downtrend happens , no intention to catch the knife at all.
Even if it reaches 3,000 spot, a weekly set-up still needs daily reversal sign to confirm.
Let's see how it goes!
on the right way yo
Inside week breakdown yo!
still only bearish.