Elliott wave Bitcoin analysis 22.12.2022

The BTCUSD market is building a downward actionary wave (Y) as an A-B-C zigzag. The first two parts of this zigzag, impulse A and correction B, have been completed. Now the last wave C is unfolding as a bearish impulse [1]-[2]-[3]-[4]-[5]. The first four parts of this impulse have already been built. Therefore, soon expect the development of the final sub-wave [5], which may end near the level of 14700.00, where wave C will be 61.8% of wave A.

Trading plan for BTCUSD today:

Sell 16849.83,

Take profit: 14700.00

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