As mentioned in my previous updates, I was eyeing the 22-25k area.
BTC has hit this area (different levels on different exchanges and pairs) some went down to 24k some stopped at 25k
Now, the market is really going crazy, everyone is shorting
As you guys know, when everyone is shorting, the likelihood of a bottom (or at least a nice bounce) is high
So technically we have hit the level that we were looking for, and we did that on extreme fear, which is always a nice opportunity for longs.
As you guys know from my EW count, I am looking for the bottom of wave 4 now, so we then go up for wave 5 (idea is linked below)
A good sign of strength would be a daily close above 27.7k today
Any questions?
Good luck traders
Remember not to break your rules
Habib
BTC has hit this area (different levels on different exchanges and pairs) some went down to 24k some stopped at 25k
Now, the market is really going crazy, everyone is shorting
As you guys know, when everyone is shorting, the likelihood of a bottom (or at least a nice bounce) is high
So technically we have hit the level that we were looking for, and we did that on extreme fear, which is always a nice opportunity for longs.
As you guys know from my EW count, I am looking for the bottom of wave 4 now, so we then go up for wave 5 (idea is linked below)
A good sign of strength would be a daily close above 27.7k today
Any questions?
Good luck traders
Remember not to break your rules
Habib
