BTCUSD UPDATE: Absolutely nothing has changed... yet

It's always helpful to step back and look at recent price action in the context of the bigger picture, and here we can see that, despite all the volatility over the last few days, absolutely nothing has changed in terms of the overall trend. We're still in a parabolic uptrend and still making higher highs and higher lows. In fact, this most recent correction was the exact same size -- 9% -- as the first two corrections in this uptrend. So really -- it's just business as usual.

Now - that could of course change IF we keep heading down from this point and form our first lower high on the daily, but since the trend is up, until that actually happens I see no reason to take the bearish angle, and would expect the next leg to be big and green from here. Of course I could be wrong and that is not financial advice.

Cheers and happy trading.