Great Long setup into 61 k area

22 Nov 2021

Btc provides a strong long position setup off $56800 support area, after a clear zig zag off 55500 level followed by another linking zig zag we have now found a potential Y wave setup in which the ~1:1 fib extension sits at $61000 to complete the WXY correction. Notice from the 69k sell off we came down in a clean 5 wave impulsive count; also paired with the high likelihood that we remain in the correction from the 5 wave count and the insufficient time incurred to sell off again we likely correct higher in price and time before BTC can sell off again. After WXY correction completion we may see more downside.

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