Elliott Wave analysis for Bitcoin  22.04.2022

A downtrend developing in the BTCUSD chart suggests a double zigzag [W]-[X]-[Y]. Once the bearish wave [W] was completed as a simple zigzag, the price started growing in the linking wave [X]. This wave will likely form as a simple zigzag (A)-(B)-(C), too. Impulse (A) and correction (B) finished forming, and the price is expected to rise in subwave (C) to 43376.00 in the near time. The size of wave [X] will be 50% of wave [W] at that level.

Trading plan for BTCUSD for today:

Buy 40452.50,

Take profit: 43376.00.

LiteFinance: Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 22.04.2022 | LiteFinance

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.