Breaking news from the world of cryptocurrencies:

There was a piece of information on Twitter that 2001 BTC in the amount of $ 97.29 was withdrawn from Coinbase to an unknown wallet.

A huge CryptoKit attracted the attention of the bot Whale Alert by shifting bitcoins to an amount of about one hundred million dollars.

According to BitInfoCharts, the recipient wallet belongs to the OKEx crypto exchange. The bitcoins were then sent to a cold wallet. According to many experts of the analytical company Glassnode, huge volumes of bitcoins are now being transferred from weak hands to organizations that take care of cryptocurrency for the long term.

We continue to consider Bitcoin from the point of view of the Elliott theory on the hourly timeframe.

BTC/USD, H1 timeframe:

The formation of an upward correction [B] of a large downward zigzag can be observed. By the beginning of December, the bearish wave [A] was completed in the form of a five-wave impulse, followed by the development of a corrective wave [B].

Correction [B] consists of three sub-waves (W)-(X)-(Y), where the first two sub-waves (W) and (X) are already fully completed, and the last sub-wave (Y) is still forming. It seems that wave (Y) is not taking the form of a simple zigzag, as suggested earlier, but a more complex triple zigzag WXY-XX-Z formation.

Growth is possible in the final current wave Z in the near future, which may take the form of a standard zigzag [A]-[B]-[C] to the level of 55000.00. At the indicated level, the magnitude of the entire wave [B] will be 50% of the impulse [A]. There is a high probability of achieving the specified ratio.

In the current situation, one can consider opening buy deals in order to take profit at the end of correction [B].