Elliott wave Bitcoin analysis 17.08.2023

Bitcoin continues to form the final impulse wave [C] inside the actionary wave Y. The first three parts, sub-waves (1)-(2)-(3), have been completed within the wave [C]. Shortly expect a small rise in correction (4) and then a fall in impulse (5). Wave (5) will end at the low of impulse (3), that is, at the level of 28323.76. In the current situation, consider opening short trades.

Trading plan for BTCUSD today:

Sell 28630.48, Take profit: 28323.76






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