Elliott wave Bitcoin analysis 08.07.2022

The BTCUSD market is forming the down motive wave W as a standard zigzag [A]-[B]-[C], with the final impulse wave [C] unfolding inside. The final wave (5) is developing in the [C] impulse. The first four sub-waves have completed in wave (5), and correction 4 is a double combination [W]-[X]-[Y]. The Bitcoin price should be declining in sub-wave 5 to a level of 14600.00.

Trading plan for BTCUSD today:

Sell 22083.50,

Take profit: 14600.00.

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