Whether we are expecting higher or lower on the medium to longer time frame, BTC will break the low of the wick (42k)
I'm going to show you the bullish count, as in what will happen in the bullish case in my opinion.
We have completed an intermediate wave 1 (blue), and we are now correcting for wave 2.
Wave 2 correction is playing out in an ABC, the AB pivot was completed in a zig zag
The wave C is going to be completed by a 5 wave move (we are putting in wave 5 now)
I'm sorry the chart is a bit messy but that's the best I could do
We have a different bullish count (also ABC correction) where we will rally before going below 42k
But in all cases we need to break 42k according to EW counts
Of course, the bullish count will be invalidated if we break 39.5k, in which case we will probably be in an expanding flat (watch my last idea) where we will break the lows of 28.8k
Any questions?
Good luck traders
Remember not to break your rules
Habib
I'm going to show you the bullish count, as in what will happen in the bullish case in my opinion.
We have completed an intermediate wave 1 (blue), and we are now correcting for wave 2.
Wave 2 correction is playing out in an ABC, the AB pivot was completed in a zig zag
The wave C is going to be completed by a 5 wave move (we are putting in wave 5 now)
I'm sorry the chart is a bit messy but that's the best I could do
We have a different bullish count (also ABC correction) where we will rally before going below 42k
But in all cases we need to break 42k according to EW counts
Of course, the bullish count will be invalidated if we break 39.5k, in which case we will probably be in an expanding flat (watch my last idea) where we will break the lows of 28.8k
Any questions?
Good luck traders
Remember not to break your rules
Habib
