Elliott wave Analysis: BTCUSD Aiming For 7500-8000

BTCUSD can be making a five-wave impulsive decline away from 11750 highs on the intra-day chart, which we labelled as blue wave c. As we look closely, we see four of the five needed legs completed, which means current fall from 9885 level can be final wave (v), which can face limited downside and a possible reversal around the 7500-8000 zone.

BTCUSD, 1h

btcusd, intra

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.