Elliott wave Bitcoin analysis 06.07.2022

The BTCUSD continues forming the down motive wave W as a standard zigzag [A]-[B]-[C]. The most recent chart section displays the fifth leg, sub-wave (5), of the bearish impulse wave [C] composed of sub-waves (1)-(2)-(3)-(4)-(5). Sub-waves 1-2-3-4 have completed in wave (5), and the final wave 5 is currently developing. The price should be moving in sub-wave 5, forming sub-waves [3]-[4]-[5], down to a level of 14600.00, where wave (5) will be 76.4% of impulse (3).

Trading plan for BTCUSD today:

Sell 19866.00,

Take profit: 14600.00.

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