One more down before we resume up only on BTCUSD

Hi guys,

After analyzing yesterday's and today's Price Action I have my doubts about its continued rise. I think the move up is a corrective move and we are putting in a B wave of a larger zig zag with a 5 wave move down from ATH. Putting together my analysis and some fib extension to likely targets I am aiming for the .618 (54700) as first target and the 1 (51500) for the end of the C wave.

Opened up a short with good R:R (6.53).

Will update as price action develops.

Stay safe guys.

İşlem aktif:

Trade still active, price action during the weekends is usually unreliable so lets see where it goes, trade open until stops get hit.

Stay safe

İşlem aktif:

Took 75% profit at my first target. Still looking for more down to second target, price action is not as bullish as I would expect for up only to resume. Probably a retrace to the Golden Zone of yesterday's dump and resume down to 1:1.

Will look to add a bit more at the GZ with a tight stop in case it keeps running.

Stay safe fam!

İşlem kapandı: hedefe ulaştı:

Target reached, looking for longs will post once chart clears up.

Thanks for following, more updates and charts coming.

We are gonna make it Fam.