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Boon2
Jan 8, 2021 8:41 AM

BTCUSD W1 Correction Short

Bitcoin / U.S. dollarBitstamp

Description

As explained in detail in the weekly outlook , if you would like more information on how to get my free weekly outlook your more than welcome to send me a PM.

W1 We have 3 up with price breaching the 161.8fib, theres no confirmation wave Y is over and price could push up to the 200fib, but wave Y will come to an end. Then I expect a W1 correction that may last for a couple years.

X2 correction targeting the 38.2fib retracement.

Be sure to checkout my previous BTC W1 Ideas in related links.

Good luck and trade safe!

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Comments
Thundertoes30
Timeframe seems a little off, already close to the first target in a day xD
Boon2
@Thundertoes30, Like I mentioned in description W1 wave Y may not be over when we look at the D1 count. This is why I set the target as D1 wave X 2 target
Boon2
@Thundertoes30, Even the D1 wave Y may not be over when we look at the H1, H1 could be possible bull running flat, a nice bull flag could be a nice buy setup to break the top
Boon2
H1 has bull hidden but wasn't confirmed so I didn't bother putting the idea out
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