Elliott wave Bitcoin analysis 16.12.2022

The BTCUSD market has completed the construction of the corrective wave B as a double three [W]-[X]-[Y]. The last section of the chart shows the beginning of a downward price movement, which may continue in the coming days. The market has begun building impulse wave C. The first target the bears will focus on is the low at 16862.00 marked by the linking sub-wave X.

Trading plan for BTCUSD today:

Sell 17389.69,

Take profit: 16862.00.

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