Short

BTC Correction down

Updated

clear divergence on the one hour along with nearing critical resistance lines and the .618 of the previous move down. We have corrected at each key fib on this leg up and I expect us to do the same here. My money is on a larger correction which bounces off the bottom of our trend and then takes us down to the .618 (just above 6400) of this move up.
Good luck.

Note

Boom - Leg 1 done. Ive taken mine off but still expect that second leg - will wait and see what the bounce does….

Note

well, no bouncy action but second target reached. I had some defence expected here, but at the moment, the rate is descent has scared teh resistance a little I reckon. Some spikey sidewards action I suspect and then a final drop - Looking for a good spot to get in short again.

steve.elliott

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