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Bear Season 2020

Bear season has kicked off with a BANG as that 10k resistance poised as too much for the bulls to overtake thus resulting in a 20% decline from the highs of 10550. If you were in the discord server we picked the top off this rally with absolute precision. I sadly closed early as it was too risky to try and fade a 2 month long bull rally. As we have have slid down to the low of 8.4k what it left for BTC at this point. Since that low was established BTC has been able to rally 6% up to 8970 to where we have now found an intraday top. The question is that if this is the actual turning point for the HTF count that can be seen in this link. The other question that comes to mind is that if we have made enough complexity to consider this pattern complete. To me I personally feel like the pattern is incomplete and is due for one more high to wash out late shorters. Rally's however are for shorting and you should be wanting to fade this current move with the idea it will follow the red 3 pivot path. Even though the chart depicts PA coming back over the current high we still have to respect the HTF momentum and take any trades in that direction if the chance this idea is wrong and we sell off even more violently. Intraday action seems to want one more high but as time has told us this isnt certain and entering short now would not be found upon. Leave some capital on the side in the case we do move up for the final move in which you would enter the final portion of your lot. Target for this is 8.6k but if we break lower we will be on watch for a more bearish scenario. Remember to always practice good risk management and use a protective stop that allocated to less than 3% of entire portfolio!

Cheers!

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