The BTC hourly timeframe shows that the market has completed the formation of [W]-[X] sub-waves as simple zigzags. The most recent BTCUSD chart section displays the development of the initial part of the bearish wave as an impulse (1)-(2)-(3)-(4)-(5). The bullish correction (2) has recently come to an end. Now there is a decrease within the sub-wave (3), which will end at level 34780.00. At this level, the impulse wave (3) will reach the Fibonacci level of 123.6% of wave (1).
Trading plan for BTCUSD today:
Sell 38367.50,
Take profit: 34780.00.
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