Elliott Wave analysis for Bitcoin  19.04.2022

Supposedly, Bitcoin started forming a corrective pattern, suggesting a double zigzag [W]-[X]-[Y], once a linking wave X was completed. The actionary wave [W] appears to have formed at a slightly lower level than expected. The price is now growing in an impulsive subwave (A), which is part of the linking wave [X]. The linking wave [X] may form as a simple zigzag (A)-(B)-(C), as shown in the chart. It may end developing at around 43376.00, where its size will be 50% of the actionary wave [W].

Trading plan for BTCUSD for today:

Buy 40666.00,

Take profit: 43376.00.

LiteFinance: Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 19.04.2022 | LiteFinance

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