Elliott wave Bitcoin analysis  22.07.2022

The BTCUSD hourly chart displays the descending corrective pattern unfolding as a zigzag [A]-[B]-[C]. The final wave [C] is forming as an impulse (1)-(2)-(3)-(4)-(5), with sub-wave (5) developing inside. Correction 4 has completed in wave (5) as a triple zigzag. Next, the market turned down and started declining. Wave 5 should be developing as an impulse [1]-[2]-[3]-[4]-[5] down to a level of 17550.00.

Trading plan for BTCUSD today:

Sell 22981.40,

Take profit: 17550.00.

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