The current action could potentially indicates we are still in the A leg of the final triangle wave. We are waiting for the following conditions to get into the potential final move:
1. Price hitting triangle support zone marked above
AND
2. 1HR "Take Profit" Signal in the bear trend or 1HR long entry signal or 1HR clear RSI oversold bullish divergence (under 30, and around 9 candles.)
OR
3. A clear 5 wave structure going downwards. Even though corrective waves are hard to count, all C-waves have a clear 5 wave structure.
In the mean time, we are scalping longs in alt coins as they currently have bigger upward momentum compared to BTC.
Let us know if you have any questions or comments. We are here to help!