Elliott wave Bitcoin analysis

29. Dez. 2021

The BTCUSD market is building a horizontal correction [B], in the shape of a double three (W) - (X) - (Y). The last sub-wave (Y) is currently unfolding. Wave (Y) is developing as a triple zigzag W-X-Y-XX-Z, the completion of which requires the last fifth part, that is, an actionary sub-wave Z. Most likely, wave Z will take the shape of a simple zigzag [A] - [B] - [C], as shown on the chart. Its completion is expected around the level of 55000.00. At the indicated price level, wave [B] will be 61.8% of the impulse [A].

Trading plan for BTCUSD today:
Buy 47824.50, TP 55000.00