Elliott wave Bitcoin analysis 27.12.2022

BTCUSD continues constructing the downward actionary wave (Y) as the 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 the bearish impulse [1]-[2]-[3]-[4]-[5]. The first four parts of this impulse have already been built, so expect the completion of the last sub-wave [5] shortly. It may end around level 14700.00, where wave C will be 61.8% of wave A.

Trading plan for BTCUSD today:

Sell 16874.05,

Take profit: 14700.00.

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