In my last update, I showed you my primary count, arguing in favor of BTC having topped out at 18.3k We ended up dropping all the way to 16.3k, confirming my count (confirmation was a break below 16,686)
This being said, I am expecting this rise to be a wave 2 before a continuation lower. On top of that, this entire wave looks very corrective (low volatility and slow) pointing towards it being a correction and not an impulse.
The resistance area I'm interested in is 17.5-17.9k where we have the VAH of the drop and an OB.
For now, that's what I'm looking for. If we break the 18.3k high my count will be invalidated, in which case I will update you guys as always.
Any questions?
Good luck traders Remember not to break your rules