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Elliott wave Bitcoin analysis 08.12.2021

The BTCUSD market is forming a corrective wave as a simple zigzag [A]-[B]-[C]. The first sub-wave of zigzag, the five-wave impulse [A], completed. Next, the market turned up and started rising in the ascending corrective wave [B]. The [B] wave could be unfolding as a simple zigzag (A)-(B)-(C), as outlined in the chart. Sub-wave (A) has completed as a leading diagonal. A short correction (B) could have also completed. The entire [B] wave could end at a level of 58410.00, where it will be 61.8% of the [A] impulse.

Trading plan for BTCUSD today:

Buy 50469.00,

TP 58410.00


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