10.2.2020 Update (Fri)
The big picture on the daily time frames
BTC remains in a bullish trend with the active seller group still selling in profit, which means buying the dips will still be the priority. As mentioned in the weekly outlook, we are in fairly complex Elliot Wave count territory. As a result, a must have entry requirement for longing the current situation is overly bearish short-term sentiment. The drop in BTC price yesterday brought down the SOPR, which means the next dip buying opportunity will likely coincide with a “decr. supply” alert.