Elliott wave Bitcoin analysis 08.11.2022

The hourly timeframe of the BTCUSD chart displays the formation of an actionary wave (W) as a standard A-B-C zigzag. Impulse wave A and correction B have been completed. Then the second impulse wave C began unfolding. Sub-waves [1]-[2]-[3]-[4] are completed within wave C. If the decline within the correction [4] is completed, the price may rise shortly towards the high of 21473.50 within wave [5]. This level was marked by a sub-wave [3].

Trading plan for BTCUSD today:

Buy 19667.00,

Take profit: 21473.50.

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