Elliott wave Bitcoin analysis 11.05.2023

Major bearish correction B is unfolding as of the standard zigzag [A]-[B]-[C]. Inside it, the last sub-wave [C] is under construction. Wave [C] can take the shape of a simple impulse (1)-(2)-(3)-(4)-(5). Soon expect price drop and development of sub-waves (3)-(4)-(5), approximately to 25300.00. At this level, correction B will be 50% of impulse A.

Trading plan for BTCUSD today:

Sell 27464.37,

Take profit: 25300.00.

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