Elliott wave Bitcoin analysis 05.09.2022

The BTCUSD must be forming the second leg of the potential double zigzag, the linking wave [X], as a double zigzag (W)-(X)-(Y). Sub-wave (W) is a simple zigzag A-B-C, the linking wave (X) is a triple zigzag. There is unfolding sub-wave (Y) as a standard zigzag A-B-C. The complex corrective wave B should soon finish as a triple zigzag [W]-[X]-[Y]-[X]-[Z], and the Bitcoin price will continue falling in the impulse sub-wave C to a level of 18500.00.

Trading plan for BTCUSD today:

Sell 19719.50,

Take profit: 18500.00.

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