Elliott Wave analysis for Bitcoin  15.08.2022

The BTCUSD crypto pair has formed the ultimate part of a projected double zigzag’s bullish actionary wave [W]. The wave [W] may be completed soon as a triple zigzag (W)-(X)-(Y)-(X)-(Z). The ultimate actionary sub-wave (Z) looks like a double zigzag of a smaller degree W-X-Y. The price is expected to rise to 26375.45 in the sub-wave Y in the nearest time. The sub-wave (Z) size will equal the size of the previous actionary wave (Y) at that level. Once that level is reached, Bitcoin is expected to fall in the linking wave [X].

Trading plan for BTCUSD for today:

Buy 24807.00,

Take profit: 26375.45.

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