Elliott wave Bitcoin analysis 07.06.2022

The BTCUSD is forming the descending corrective wave W as the first wave in the double zigzag W-X-Y. Wave W is unfolding as a standard zigzag [A]-[B]-[C] that should end soon. There is unfolding the descending impulse wave [C], with the final sub-wave (5) developing inside as a simple impulse 1-2-3-4-5, as outlined in the chart. Wave (5) should finish at a level of 25200.00, the previous low marked by impulse (3).

Trading plan for BTCUSD today:

Sell 29466.00,

Take profit:  25200.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 07.06.2022 | LiteFinance

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