Elliott wave Bitcoin analysis

16 ก.พ. 2022

The most recent section of the BTCUSD price chart displays the bearish wave currently unfolding as a five-wave impulse. The first down wave (1) finished as a leading diagonal. The zigzag-shaped correction (2) must have also completed, having retraced wave (1) by 76.4%. Therefore, the price should continue falling in a large impulse wave (3) to a level far below 41545.00, marked by the leading diagonal (1).

Trading plan for BTCUSD today:
Sell 44015.50, Take profit: 41545.00.