Elliott wave Bitcoin analysis 01.02.2022

After the motive down wave W had finished as a simple zigzag [A]-[B]-[C], the market turned up and started rising in the linking wave X, unfolding as a double zigzag [W]-[X]-[Y]. The first two sub-waves of the double zigzag have already completed. The market should continue rising in the final sub-wave [Y], developing as a double zigzag of a smaller degree. The Bitcoin price should be rising to a level of 41675.00, where waves [W] and [Y] will be equal.

Trading plan for BTCUSD today:

Buy 38587.00.

Take profit: 41675.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.02.2022 | LiteFinance

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