Elliott wave Bitcoin analysis 12.07.2022

The BTCUSD is forming the impulse down wave in the hourly timeframe, with the final wave (5) unfolding inside as an impulse 1-2-3-4-5. Correction 4 has completed as a double zigzag [W]-[X]-[Y]. The price will continue declining in impulse 5 to a level of 17400.00, as outlined in the chart.

Trading plan for BTCUSD today:

 Sell 19980.50,

Take profit: 17400.00.

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