Elliott wave Bitcoin analysis 15.07.2022

The BTCUSD market is forming the impulse down wave [C] within the motive wave W of a larger degree. The [C] impulse is composed of five sub-waves (1)-(2)-(3)-(4)-(5), with the final sub-wave (5) unfolding inside. Wave 5 of (5) is currently developing, with sub-waves [1]-[2]-[3]-[4] completed and sub-wave [5] forming inside. Wave [5] should be unfolding as an impulse or an ending diagonal. The Bitcoin price could go down to the previous low of 17400.00. 

Trading plan for BTCUSD today:

Sell 20493.00,

Take profit: 17400.00.

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