Bitcoin's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
Bitcoin's selloff might be considered an opportunity by some, but the Evolution of the Trade is very specific about entry points. The daily impulse at 12% and 31 days old with price and time cycles of -0.4 and 0.79 is not forcing action, but bulls must wait for the next Reset (R) to enter. Resets come when the composite trend, a function of the daily, weekly, and monthly trend direction, temporarily falls out of alignment. The computer will code another Reset (R) after Double or Triple alignment is restored. The daily trend despite all the pessimism generates after yesterday's selloff is still in Triple alignment.
The Internet is focused on the El Salvador news as the reason for the recent rally and selloff. The invisible hand discounts 6-9 months ahead, so I seriously doubt it concerned about what a small periphery economy is doing. Adopting Bitcoin as a sovereign currency from a nation that lacks electronic banking for the bulk of its population is not a game changer. Who's transacting through El Salvador because of this?
What can traders/investors focus on? Reversals. Bitcoin reversals are pulled from the Rev tab of the Matrix.
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