Elliott Wave analysis for Bitcoin  21.04.2022  

The current BTCUSD pattern suggests formation of a bearish double zigzag, with the first actionary wave [W] completed as its part recently. The wave [W] developed as a simple zigzag (A)-(B)-(C). A bullish linking wave [X] is currently developing and will likely form as a zigzag (A)-(B)-(C). Small subwaves — impulse (A) and correction (B) — look completed, so the pair can be expected to grow in the ultimate subwave (C) to 43376.00 in the near time. The size of the wave [X] will be 50% of the wave [W] at that level.

Trading plan for BTCUSD for today:

Buy 41477.00,

Take profit: 43376.00.

LiteFinance: Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 21.04.2022 | LiteFinance

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