Elliott wave Bitcoin analysis 04.05.2023

The price has risen, so there is a possibility that the correction (4) will continue unfolding inside the leading diagonal [A]. To confirm this, the price should not rise above the upper resistance line. Correction (4) will end as a double zigzag W-X-Y. Then expect a decline in the final impulse wave (5) to the price level of 26900.00. This is the minimum marked by impulse (3). An approximate trajectory of the future price movement is outlined in the chart.

Trading plan for BTCUSD today:

Sell 29168.32,
Take profit: 26900.00

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