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dukeposh
May 16, 2023 5:48 PM

BTCUSD | 1st ABC Correction A-wave Target Projection Long

Bitcoin / United States DollarCoinbase

Description

A potential bullish scenario : 1st ABC correction zigzag pattern with upcoming wave 5 of c-leg targeting 0.382 retracement of previous 5X motive wave move between 24-25K
However, wave 1 and 3 in c-leg are extended, wave 5 can be the shortest wave and truncation is still possible.
Action: A safer long entry can be placed when breakout downtrend line 2-4 or above wave 4 of c -leg, targeting the upper resistance of the bull flag.

Always trade with affordable risk and respect your stoploss!
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