Elliott wave Bitcoin analysis 23.08.2022

The BTCUSD market is forming a double zigzag, with the first motive wave [W] completed inside as a triple zigzag. The descending linking wave [X] is currently developing as a double zigzag (W)-(X)-(Y). Sub-wave (W) seems to have completed as a zigzag A-B-C. The Bitcoin price should be rising in the linking wave (X), unfolding as a zigzag. The price could rise to level 23500.00, where wave (X) will retrace the (W) wave by 61.8%.

Trading plan for BTCUSD today:

Buy 21268.50,

Take profit: 23500.00.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.