In my last update I told you that I lost my bullish bias on the higher time frame.
After looking at general market sentiment and how people are feeling, the big majority are now feeling very bearish and are not expecting a recovery for Bitcoin anytime soon.
And if you've been following me for a while, you know that I believe that 95% of traders are almost always wrong (it's not just a belief it's a fact).
For this reason, I'm personally going to start looking for swing longs again and I'm going to favor this EW count at the moment.
If we lose 40k, this count will be invalidated.
I've simplified the count as much as possible, giving you the only things you need to know so you don't get too confused.
Quick explanation on this count :
1) We are putting a running flat in my opinion (the C was put in at the fib golden pocket) and we go up from here
2) If we lose 40k, it's more likely that we are putting in an expanding flat (2nd C circled in orange shows how far we will drop), meaning we will break the lows of the A wave
Any questions?
Good luck traders
Remember not to break your rules
Habib
After looking at general market sentiment and how people are feeling, the big majority are now feeling very bearish and are not expecting a recovery for Bitcoin anytime soon.
And if you've been following me for a while, you know that I believe that 95% of traders are almost always wrong (it's not just a belief it's a fact).
For this reason, I'm personally going to start looking for swing longs again and I'm going to favor this EW count at the moment.
If we lose 40k, this count will be invalidated.
I've simplified the count as much as possible, giving you the only things you need to know so you don't get too confused.
Quick explanation on this count :
1) We are putting a running flat in my opinion (the C was put in at the fib golden pocket) and we go up from here
2) If we lose 40k, it's more likely that we are putting in an expanding flat (2nd C circled in orange shows how far we will drop), meaning we will break the lows of the A wave
Any questions?
Good luck traders
Remember not to break your rules
Habib
