Elliott wave Bitcoin analysis 20.06.2022

The BTCUSD market continues forming the down wave [C] as an impulse (1)-(2)-(3)-(4)-(5). The hourly timeframe displays the final part of the pattern. After correction (4), composed of sub-waves W-X-Y, completed, the price has been drawing the impulse wave (5). Sub-waves 1-2-3-4 must have completed, and the price is moving in the final sub-wave 5 to a level of 14600.00. At the indicated level, wave (5) will be 76.4% of wave (3).

Trading plan for BTCUSD today:

Sell 19785.50,

Take profit: 14600.00.

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