Elliott wave Bitcoin analysis 05.12.2022

The Bitcoin market continues to form the final leg of horizontal correction B. The double three is unfolding within which a bullish actionary wave [Y] is now being built. Wave [Y] has a complex structure, and may take the shape of a double zigzag (W)-(X)-(Y). Its two parts, sub-waves (X)-(Y), are also double zigzags W-X-Y of a smaller wave degree. The price may soon rise to the level of 18010.00, at which wave [Y] will be 100% of wave [W].

Trading plan for BTCUSD today:

Buy 17329.10,

Take profit: 18010.00.

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