BTCUSD - SELL IDEA

In the current BTCUSD 15-minute chart, we see a fascinating Elliott Wave setup that indicates a potential decline is on the horizon. The price action has unfolded in a clear impulse pattern up to wave (3), followed by a corrective wave (4). We're now potentially in the early stages of wave (5), which seems poised to make a downward move.

Wave (5) is expected to at least retrace to the Fibonacci levels of the prior move from wave (2) to wave (3). Specifically, traders might look for short entries around the current levels with targets at 60285 (38.2% retracement), 60014 (50% retracement), and perhaps as low as 59742 (61.8% retracement).

This analysis offers an excellent short opportunity, considering the clear completion of wave (4) and the onset of wave (5). For those considering this trade, setting a stop-loss just above the recent high of wave (3) could help manage risk effectively.

Given the rapid movements often seen in Bitcoin, it's crucial to stay vigilant and monitor the trade closely for any shifts that might suggest a deviation from the expected pattern. Be prepared to adjust your positions based on new market information.