Do not stress out, macro picture for Bitcoin at the moment looks super great. Yesterdays dump is nothing that really worries me at the moment. We are very likely going to test a demand zone at 8.7-9.1k, that's where I will add to my longs heavily. I have already started buying dips, but at 8.7-9.1k area (grey area on the graph) I will start adding to my leveraged...
Finally after such a huge move from the lows we are getting some sort of a correction. Next support level is at 230$ area and that is where I will add to my longs. At the moment not sure if bounce from that are is going to lead us to new yearly highs or just a nice pump for 20-35 $, but I'll take that as well. However I would favor new highs from that level....
We have seen LINK breaking out from almost 7 months of a downtrend. After breaking out I have been patiently waiting for a breakout retest and finally I got it. Therefore LINK long at 2.4 USD has been entered, with a roughly 2.2ish stop loss.
To continue with my long bias... Lower time frame Elliot Waves count shows us a possible leading diagonal for a wave 1 and ABC down for a possible wave 2, also OBV has touched a trendline from the bottom and got a bounce from 2019 October resistance, which means we could be flipping resistance in to support on OBV. This action is confirming Elliot Wave Count as...
2.5 years volume profile on weekly graph shows us that we broke out to the upside through it and now retesting supply exactly at the POC (Point of Control), so I would be silly for not trying to long some Bitcoin here. However I am not a completely bullish (short term) as of yet, because...
Check my idea before
Why I was saying this week is important for bulls, it's because looking at monthly graph we are using POC as a current resistance, but weekly as a support, so if we manage to defend this 8.3k area, I got to stay on the bulls side, that's what I am doing. Although, I am not saying we can still go down to 7.6k area, but until then I got to stay bullish
![BTCUSD: Macro Bitcoin is a BEAST [Overview]](https://s3.tradingview.com/j/JU2yV0oN_mid.png "Macro Bitcoin is a BEAST [Overview]")
![LINKUSD: LINKUSD [LONG]](https://s3.tradingview.com/y/ySfg1kT8_mid.png "LINKUSD [LONG]")
![BTCUSD: BTCUSD [LONG] LTF overview](https://s3.tradingview.com/b/bU9vNpll_mid.png "BTCUSD [LONG] LTF overview")
