Elliott wave Bitcoin analysis 25.08.2022

The BTCUSD market is forming the bearish wave [X] as a double zigzag (W)-(X)-(Y). The first motive wave (W) has completed as a simple zigzag. The linking wave (X) is currently developing, also as a simple zigzag A-B-C. The Bitcoin price should be rising in the C impulse, namely, in sub-waves [3]-[4]-[5], to a level of 23500.00, where wave (X) will be 61.8% of sub-wave (W).

Trading plan for BTCUSD today:

Buy 21319.00,

Take profit: 23500.00.






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