Elliott wave Bitcoin analysis 14.06.2022

The BTCUSD continues forming a descending motive wave W as a standard zigzag [A]-[B]-[C]. There is unfolding the final impulse wave [C] composed of five sub-waves (1)-(2)-(3)-(4)-(5) in the hourly timeframe. The bearish wave (5) is unfolding as an impulse 1-2-3-4-5, with the first three sub-waves completed inside. The Bitcoin price should be moving down to a level of 17690.00, where wave (5) will be 61.8% of wave (3).

Trading plan for BTCUSD today:

Sell 21781.50,

Take profit: 17690.00.

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