Elliott wave Bitcoin analysis 02.05.2022

The BTCUSD market continues forming the bearish impulse that started after the bullish linking wave [X] completed as a standard zigzag (A)-(B)-(C). So far, sub-waves (1) and (2) of the new impulse have completed. The Bitcoin price should be moving down in sub-wave (3) to a level of 33818.00. At the indicated level, wave (3) will be 123.6% of wave (1). One could consider entering short trades in the current situation.

Trading plan for BTCUSD today:

Sell 38954.50,

Take profit: 33818.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 02.05.2022 | LiteFinance

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