Taking a look at the weekly here to get oriented. There isn’t even an accumulation range formed yet. No good for the bulls/hodlers. If you are trying to play this long term, IN MY OPNION, this is definitely not the place to start taking a position . The current weekly candle is pointing down. There is some demand coming in here and there, which you can see on smaller time frames but that weekly candle tells me that its not done running off yet.

Be careful of social media people that are suggesting that this is now the time to buy. I dont think thats good advice especially for those who are not yet able to understand chart analysis. Shorting is a different story and there are surely opportunities to the short side. But that requires you take more risk and if you dont really have a full grasp on supply/demand, you are asking for trouble.

What is good IN MY OPINION again, is that this is the time to breathe and start looking at how to do this. Don’t get struck with FOMO. Thats never good. The bottom line is that these things do move in waves… and thats what technical analysis is. Its learning how to measure waves.

Think about it like this. If you keep your capital in your own possession , you are not at risk. If you throw your capital into the chart (pray and spray) you become very vulnerable. It’s very stressful to put money on a position that ends up not going your way. Sadly, many people got the fever, FOMO fever and bought at that top. Unfortunelatly that are now trapped if they didn’t get out already.

As usual i cant give anyone hard financial advice. But what I can advise is that this down period is a great time to learn. This is a skill no different from learning a musical instrument. The amount of hours you put into practice will determine how well you cam play.

Trading Views replay feature is one of the most important tools on the market to learn. There is also an app called BTC tester and FX tester. Both of those apps have a rapid speed replay mode. This is the way to learn.

It takes reps. Thousands of them. You cannot get the required reps by just following along day to day. Trading View’s replay feature is a very powerful way to learn. If I had to pick between learning on a demo account versus TradingView, I would choose trading view.

Trading view is an incredibly powerful platform. I have not seen any else like it and the main reason why is because of the replay feature.

This is a very long winded commentary so I appreciative you made it this far.

Whatever your trading style is whatever. I think that the Wyckoff/ VSA principles stand above all others but that is just me. Regardless of your style, you can still use Trading view in replay mode to get the reps. I guess some people call it backtesting.

If you are interested in learning volume spread analysis I always recommend Pete Faders VSA on youtube as a start. Start with “the truth behind price movement” It is a 4 part series that will change the way you look at the chart forever.

Will follow up.