Elliott wave Bitcoin analysis

25 feb 2022

The BTCUSD market began to build a downtrend after the completion of the linking wave X. A bearish impulse (1)-(2)-(3)-(4)-(5) should be developing. The first three parts look complete. A bullish correction (4) is now forming. Growth within this correction is expected to the level of 40297.52, at which wave (4) will be 61.8% of the impulse sub-wave (3). In the current situation, it is profitable to consider entering purchases.

Trading plan for BTCUSD today:
Buy 38791.50, Take profit: 40297.52.