Elliott wave Bitcoin analysis  07.11.2022

The BTCUSD market continues developing an actionary wave (W) as a standard zigzag A-B-C. Impulse wave A and bearish correction B as a double zigzag [W]-[X]-[Y] have come to an end. Now the last upward wave C is unfolding as the impulse [1]-[2]-[3]-[4]-[5]. The market has completed the construction of a complex correction [4] as a double zigzag (W)-(X)-(Y). Therefore, shortly, expect growth within sub-wave [5], composed of sub-waves (1)-(2)-(3)-(4)-(5), towards the level of 22845.00.

Trading plan for BTCUSD today:

Buy 20897.50,

Take profit: 22845.00.

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