Elliott wave Bitcoin analysis 29.03.2024

The BTCUSD market is forming a horizontal correction (4) as a contracting triangle A-B-C-D-E, as outlined in the chart. As of now, the first wave A has completed. Correction B is about to finish. The price should resume declining in the C wave to a level of 62338.54. One could enter short positions.

Trading plan for BTCUSD today:

Sell 70425.07,

Take profit: 62338.54.

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