In my last update, I showed you my preferred EW count and explained why I wanted to see one last drop in a wave 5.
We ended up dropping as expected, with a pretty strong move to the downside
Some support levels (22.7-23.5k) didn't provide much support, and BTC continued its move to the downside.
Going back to the EW count, this move down happened in 3 waves in my opinion (count shown on the chart), where wave 3 can extend as much as it wants, then we have a bounce for a wave 4 and one more drop for a wave 5
Next support I'm looking at is the 18k region
For now, technically speaking, I don't see a sign of a bottom being put in here
Any questions?
Good luck traders
Remember not to break your rules
Habib
We ended up dropping as expected, with a pretty strong move to the downside
Some support levels (22.7-23.5k) didn't provide much support, and BTC continued its move to the downside.
Going back to the EW count, this move down happened in 3 waves in my opinion (count shown on the chart), where wave 3 can extend as much as it wants, then we have a bounce for a wave 4 and one more drop for a wave 5
Next support I'm looking at is the 18k region
For now, technically speaking, I don't see a sign of a bottom being put in here
Any questions?
Good luck traders
Remember not to break your rules
Habib
