Elliott wave Bitcoin analysis

20 Ara 2021

The hourly BTCUSD chart displays the descending simple zigzag currently unfolding, with the bearish wave [A] completed as a five-wave impulse in early December. The market has been rising in corrective wave [B] developing as a double three (W)-(X)-(Y). Wave (W) completed as a double zigzag, and the descending linking wave (X) is currently forming as a triple zigzag. Wave Z should conclude the zigzag at a level of 44500.00, where wave Z will retrace the Y wave by 76.4%.

Trading plan for BTCUSD today:
Sell 46523.00, TP 44500.00