Bitcoin is developing a bearish double zigzag. The BTC market has completed two sub-waves [W]-[X] in the form of simple zigzags. Now the initial part of the bearish wave is unfolding as an impulse (1)-(2)-(3)-(4)-(5). The bullish correction (2) has recently come to an end. Now there is a decrease in the sub-wave (3), which will end at level 34780.00. At this level, impulse wave (3) will reach the Fibonacci level of 123.6% of wave (1). An approximate trajectory of Bitcoin’s future price movement is outlined in the chart.
Trading plan for BTCUSD today:
Take profit: 34780.00.