Elliott Wave analysis for Bitcoin 18.04.2022

The price is moving down, and the initial part of a new corrective pattern has started forming in the last segment of the BTCUSD crypto pair’s chart. A double zigzag [W]-[X]-[Y] is probably developing. The first actionary wave [W] looks completed as a regular zigzag (A)-(B)-(C). The bullish linking wave [X], which is currently unfolding, will likely develop as a double zigzag (W)-(X)-(Y). The subwaves (W) and (X) are fully formed. The actionary subwave (Y) is expected to develop in the nearest future. It may end at the level of 42600.00, where the size of wave [X] will be 38.2% of wave [W].

Trading plan for BTCUSD for today:

Buy 39813.50,

Take profit: 42600.00.

LiteFinance: Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 18.04.2022 | LiteFinance

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