Elliott wave Bitcoin analysis
The BTCUSD market is forming a simple descending zigzag [A]-[B]-[C], with the first wave [A] completed inside as a bearish impulse composed of five major sub-waves (1)-(2)-(3)-(4)-(5). The market is now rising in the upward corrective wave [B] as a double zigzag (W)-(X)-(Y). The first two sub-waves (W) and (X) must have completed, so the price should be rising in the final sub-wave (Y) to a level of 55050.00. At this level, according to the Fibonacci retracements, the [B] wave will be 50% of the [A] wave.
Trading plan for BTCUSD today:
Buy 48299.50, TP 55050.00
Trading plan for BTCUSD today:
Buy 48299.50, TP 55050.00
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