Elliott wave Bitcoin analysis  21.07.2022

The BTCUSD market continues forming the motive wave W as a standard zigzag [A]-[B]-[C], with the final wave [C] unfolding inside as an impulse (1)-(2)-(3)-(4)-(5). Sub-wave (5) of [C] is currently developing as an impulse, with corrective wave 4 completed inside as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The Bitcoin price should be declining in sub-wave 5 to a low of 17550.03.

Trading plan for BTCUSD today:

Sell 23176.00,

Take profit: 17550.00.

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