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:
Take profit: 16827.45.