Elliott wave Bitcoin analysis 07.12.2021

The descending correction continues developing as a simple zigzag [A]-[B]-[C]. The first leg of the zigzag, sub-wave [A], completed as a five-wave impulse (1)-(2)-(3)-(4)-(5). Next, the market turned up and started rising in the bullish correction [B], which could end as a simple zigzag (A)-(B)-(C), as outlined in the chart. Sub-wave (A) could be unfolding as a leading diagonal. The entire [B] wave could finish at a level of 58410.00, where it will be 61.8% of the [A] impulse.

Trading plan for BTCUSD today:

Buy 51179.50,

TP 58410.00

LiteFinance: Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (7 December 2021) | LiteFinance

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