Re: How do you know if current prices are corrected or going to correct?
Short answer: You cant know, like knowing what's 2+2 . Its that simple. No one knows. But you can make a plan, according to your strategy and then, if it starts playing out, enter a position. That is what I do for btcusd and others. This my current view of things. If it happens, I get an entry. If not, then there is no entry. Its that simple. It needs to be updated regularly, and then be followed again.
It seems easy enough to read your words, but I think it's quite difficult to apply them. At least enter the market if you look at the chart must certainly have technical analysis in addition to fundamentals. If you look at the lines you make, it's certainly not easy for new people to understand. Indeed, market analysts have had ease with the various tools provided in the chart. When drawing lines I need the help of some tools such as fibonanci, RSI, MACD and some other tools. Because if you look at the line you make it will be very difficult why it can go down and then go up, down again it seems to need to be clearer.