Elliott wave Bitcoin analysis 18.08.2022

In the long term BTCUSD will develop the linking wave X as a double zigzag [W]-[X]-[Y]. Now the first actionary wave [W] is under construction. It has a complex internal structure of a triple zigzag (W)-(X)-(Y)-(X)-(Z). To complete this pattern, the last actionary sub-wave (Z) is needed. The sub-wave (Z) will likely end near the level of 26375.45 as a double zigzag W-X-Y. At the indicated level, the subwaves (Z) and (Y) will be equal.

Trading plan for BTCUSD today:

Buy 23437.00,

Take profit: 26375.45.

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