Elliott wave Bitcoin analysis 22.08.2022

The BTCUSD is forming a large double zigzag, with the first motive wave [W] completed inside as a triple zigzag. There is developing the bearish linking wave [X] as a double zigzag (W)-(X)-(Y). Sub-wave (W) must have completed as a simple zigzag A-B-C. The Bitcoin price should be rising in the linking wave (X) to a level of 23500.00, where wave (X) will retrace the (W) wave by 61.8%.

Trading plan for BTCUSD today:

Buy 21470.00,

Take profit: 23500.00.

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