Elliott wave Bitcoin analysis 23.08.2022

The BTCUSD market is forming a double zigzag, with the first motive wave [W] completed inside as a triple zigzag. The descending linking wave [X] is currently developing as a double zigzag (W)-(X)-(Y). Sub-wave (W) seems to have completed as a zigzag A-B-C. The Bitcoin price should be rising in the linking wave (X), unfolding as a zigzag. The price could rise to level 23500.00, where wave (X) will retrace the (W) wave by 61.8%.

Trading plan for BTCUSD today:

Buy 21268.50,

Take profit: 23500.00.





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