joncc

XBTUSD EW Count - Final WXY Correction in larger ABC Correction

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Looks to me like we are in a larger degree ABC correction from the drop at 6k. We've been channeling pretty well and forming several key fractals. I believe we are completing what looks to be the last leg of the WXY complex correction. My targets here are around 3350. 1:1 extension of the W:Y is around 3450. I am currently short, looking to take profit at this level and will hold for a possible chance to slide down to 3350. Im thinking we might create a rather large impulse rally to about the 4.5k area once the Y completes.

TLDL: Short Term bearish , medium term bullish , long term dont know but leaning bearish
Comment: Made a small update on twitter describing my buy zone and what I'm potentially looking for as an indicator that we will move up.

https://twitter.com/JonCCtrade/status/10...
Trade active: I don't believe the 5 is in yet. you can check out my twitter for a detailed update

https://twitter.com/JonCCtrade/status/10...

Comments

Nice count dude! keep posting
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joncc ADA_ADA
@ADA_ADA, thanks for the pos feedback
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