Elliott wave Bitcoin analysis 09.05.2023

Correction B is unfolding as a standard zigzag [A]-[B]-[C]. Now its final part, sub-wave [C], is under construction. Judging by the initial part, wave [C] will take the shape of a simple impulse consisting of sub-waves (1)-(2)-(3)-(4)-(5). Soon, expect the price fall and the development of sub-waves (3)-(4)-(5) approximately to 25300.00. At this level, the correction B will be 50% of the impulse A.

Trading plan for BTCUSD today:

Sell 27576.54,
Take profit: 25300.00

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