Last stand for the bulls
Hi all,
Sorry for reposting, i always make a spelling mistake!!
Until HTF market structure flip is confirmed i am still trying to find bullish set ups as i like to trade with the larger trend.
In my eyes, we are at the point where we need to reverse due to my EW count. My C wave is roughly 1:1 of Wave A. However, my C Wave could still be incomplete and we could be in Wave 5 of C and still dip slightly lower and this is quite likely.
If we reverse here in my opinion we will tag ATH again. Fall here and we have several areas of interest $17,850, $17,300, $16,800.
Part of me still feels sellers are being baited, institutions want your Bitcoin! However it's very obvious that this bearish period has scared the market, if it flips bullish lots of money will FOMO back in
If you have opposing ideas, share them!!
Sorry for reposting, i always make a spelling mistake!!
Until HTF market structure flip is confirmed i am still trying to find bullish set ups as i like to trade with the larger trend.
In my eyes, we are at the point where we need to reverse due to my EW count. My C wave is roughly 1:1 of Wave A. However, my C Wave could still be incomplete and we could be in Wave 5 of C and still dip slightly lower and this is quite likely.
- Bearish;
- Not much buying pressure coming in at support
- Heavy selling pressure
- Tagged ATH then reversed
- HTF indicators were overbought
- Bullish;
- Confluence of Wave C ;1:1 of Wave A
- Can count with confluence of fib ratios
- If the reaction from $17,650 was impulse, almost tagged .382
- Bullish divergences showing (unconfirmed)
If we reverse here in my opinion we will tag ATH again. Fall here and we have several areas of interest $17,850, $17,300, $16,800.
Part of me still feels sellers are being baited, institutions want your Bitcoin! However it's very obvious that this bearish period has scared the market, if it flips bullish lots of money will FOMO back in
If you have opposing ideas, share them!!
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