Elliott wave Bitcoin analysis 16.12.2021

The BTCUSD market continues forming the corrective trend as a simple zigzag [A]-[B]-[C]. There is forming corrective wave [B] as a double zigzag (W)-(X)-(Y). The motive wave (W) is a double zigzag, the linking wave (X) has completed as a triple zigzag. The Bitcoin price should be rising in the final wave (Y) to a level of 55050.00, where wave [B] will be 50% of the [A] impulse. The (Y) should complete a triple zigzag, as outlined in the chart.

Trading plan for BTCUSD today:

Buy 48725.00,

TP 55050.00

LiteFinance: Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (16 December 2021) | LiteFinance

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