Recap: BTC had a low volume wick below Decision 2 and came back to stick its head above Decision 1 of the previous analysis. That analysis has not been updated till now as the levels stayed largely the same. We are trading within a pattern and as volume on these minor moves, within a pattern is low, this can happen. The idea though is to cut your losses (which you calculated before even placing the trade) once the market does not deliver and focus on the next trade. Not to carry the whole can until you cannot hold it any longer - now that would mess with your head.
The action on the chart has resulted in the previous Green 1 now turning into Decision 1 while the new Decision 2 is related to the price action that followed the previous analysis.
Conclusion: BTC is currently trying hard to get past where the most volume has been within the pattern. Failure or Success will tell much and potentially cause much action. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
The action on the chart has resulted in the previous Green 1 now turning into Decision 1 while the new Decision 2 is related to the price action that followed the previous analysis.
Conclusion: BTC is currently trying hard to get past where the most volume has been within the pattern. Failure or Success will tell much and potentially cause much action. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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