Bitcoin continues to form a downtrend. The most recent BTCUSD chart section displays the price movement within the final impulse wave C, which is part of the A-B-C zigzag. The first four parts of wave C have been completed. The final sub-wave [5] is unfolding now. Expect the price to drop to the level of 14700.00, where impulse C will reach the 61.8% Fibonacci level of impulse A. In the current situation, consider entering short trades.
Trading plan for BTCUSD today:
Sell 16583.38,
Take profit: 14700.00.
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