Elliott wave Bitcoin analysis  09.11.2022

The Bitcoin market is forming the last bearish leg of a large triple zigzag, wave [Z]. The current chart shows its second half. The linking wave (X) was completed as a double zigzag W-X-Y. Now the initial part of the downward wave (Y) is unfolding. It will be completed as a simple A-B-C zigzag. The first impulse wave A is expected to end around the level of 16827.45. Then the price may correct within wave B.

Trading plan for BTCUSD today:

Sell 18459.00,

Take profit: 16827.45.

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