good morning ~
btc seemed to have bounced off my level from yesterday almost perfectly.
---
i see two paths from here:
the first path implies that we are still in the midst of working on a 5 wave impulse to the downside, and we are currently in a wave 4 \\ will begin a wave 5 to around 34k before we see a mean retracement.
the second path implies that 5 waves down has been indeed completed, and we have begun a mean retracement to around 42k before further downside ensues.
---
on 2\25, max pain on expiring derebit options sits at 40k (on $1.5b worth of premium), which gives us a higher likelihood to play out the mean retracement.
though, when everyone expects something to happen, it almost certainly never does.
be cautious, and expect the unexpected 💸
btc seemed to have bounced off my level from yesterday almost perfectly.
---
i see two paths from here:
the first path implies that we are still in the midst of working on a 5 wave impulse to the downside, and we are currently in a wave 4 \\ will begin a wave 5 to around 34k before we see a mean retracement.
the second path implies that 5 waves down has been indeed completed, and we have begun a mean retracement to around 42k before further downside ensues.
---
on 2\25, max pain on expiring derebit options sits at 40k (on $1.5b worth of premium), which gives us a higher likelihood to play out the mean retracement.
though, when everyone expects something to happen, it almost certainly never does.
be cautious, and expect the unexpected 💸