BTC despite consensus 2018 is still going down. Yes I know, I see some green candles on the 4h chart, but first we have to get through some resistance and get to $8448. And we have to get through my blue downward trend-line. The 1h chart also shows a downward trend. I use the 1h chart if I want to spot a possible reversal in the early stages. So on the 1h and 4h I see no trend reversal yet.
I wrote that a reversal was possible around $8000 and $7400. And we were between those levels, so that is a good thing. If we go up from that level ($7927) almost at the 0.618 fib level then it would make us all happy, since that could be the wave 3 (up) we are waiting for that would give us some nice profits for the coming weeks or longer.
What am I doing?
– I am still waiting for confirmation that the correction has ended.