In my last update, I shared with you my primary EW count, with an invalidation level at 21.4k
My primary count that was bearish is now invalidated, giving us some evidence that BTC might have bottomed.
Now, there is still a count that would push BTC lower (WXYXZ), but I won't share it as it won't really be beneficial here.
This being said, EW aside, I'm going to be focusing on horizontal levels much more than the EW counts.
So, for the medium term at least, I expect BTC to push higher, first target being the OB at 23.4-23.5k
We have some nice confluence right above us at 21.8k, but I do expect us to move through it.
For the levels to the downside, 17.9-18.7k is an interesting support, and a very important monthly below at 16.5k
Any questions?
Good luck traders
Remember not to break your rules
Habib
My primary count that was bearish is now invalidated, giving us some evidence that BTC might have bottomed.
Now, there is still a count that would push BTC lower (WXYXZ), but I won't share it as it won't really be beneficial here.
This being said, EW aside, I'm going to be focusing on horizontal levels much more than the EW counts.
So, for the medium term at least, I expect BTC to push higher, first target being the OB at 23.4-23.5k
We have some nice confluence right above us at 21.8k, but I do expect us to move through it.
For the levels to the downside, 17.9-18.7k is an interesting support, and a very important monthly below at 16.5k
Any questions?
Good luck traders
Remember not to break your rules
Habib
