Elliott wave Bitcoin analysis 21.11.2022

BTCUSD price is developing within corrective wave B, which serves as the middle part of a potential zigzag A-B-C. Wave B is unfolding as a double zigzag [W]-[X]-[Y]. The last two sub-waves [X] and [Y] will take the shape of double zigzags (W)-(X)-(Y) of a smaller wave level. To complete the final sub-wave [Y], an ascending actionary sub-wave (Y) is needed. It is expected to end around the level of 18144.00. This is the high marked by the sub-wave [W].

Trading plan for BTCUSD today:

Buy 16212.792,

Take profit: 18144.00.

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