Elliott wave Bitcoin analysis16.11.2022

The BTCUSD market continues to form a bearish A-B-C zigzag. Impulse wave A consisting of sub-waves [1]-[2]-[3]-[4]-[5] is completed. An upward correction B is unfolding as a double zigzag [W]-[X]-[Y]. The actionary sub-wave [W] and the linking wave [X] are completed. Soon the last sub-wave [Y] will end as zigzag (A)-(B)-(C). Correction B is expected to end at the high of 18144.00, marked by sub-wave [W].

Trading plan for BTCUSD today:

Buy 16881.50,

Take profit: 18144.00.

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