Unconfirmed bearish scenario for BTC. Watch out!Today I present to you inverted W chart of BTCUSD. We can see clear impulse down. Because we can count five waves we should form a scenario where PA will correct the impulse. So far we have gotten a reaction from lows and a HL which is the first indications of reversal. To confirm this idea we should see break of wave B of the recent correction in the channel and break of W4 of the large impulse. Moreover, this break would also confirm a Head and shoulders formation. When this happens, we should adopt this idea as a main scenario. Until then we should prefer bullish scenarios which will result in trend continuation. The move from the lows also doenst look that much impulsive and I tend to indentify it as a corrective move which supports the bullish scenarios.
We are forming our gameplan based on the indentified patterns which give us higher probabillity (they have been proven statistically significant) which in the long run should give us an edge (alfa = overperformance) in the markets.
