Elliott wave Bitcoin analysis 06.01.2023

Bitcoin has completed the linking wave [X] as a standard zigzag (A)-(B)-(C). The most recent BTCUSD chart section displays the formation of an actionary wave [Z] as a bearish triple zigzag (W)-(X)-(Y)-(XX)-(Z). Shortly expect a small upward movement in the sub-wave (XX). After that, the price will decrease in sub-wave (Z) to the level of 25788.80, that is, to the low of wave [Y].

Trading plan for BTCUSD today:

Sell 26805.55,

Take profit: 25788.80

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