Elliott wave Bitcoin analysis 29.08.2022

The BTCUSD is forming a large bullish trend as a double zigzag [W]-[X]-[Y]. The first motive wave [W] has completed, and the bearish linking wave [X] is currently forming as a standard zigzag (A)-(B)-(С). The first sub-wave (A) must have completed as an impulse. The Bitcoin price should be rising in the corrective sub-wave (B) unfolding as a zigzag A-B-C that will end at level 23022.00. At this wave (X) will be 61.8% of sub-wave (W).

Trading plan for BTCUSD today:

Buy 19769.50,

Take profit: 23022.00.

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