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Elliott wave Bitcoin analysis 05.05.2022 

The BTCUSD market is forming a long-term correction (B) as a double zigzag. The current chart displays the structure of the motive wave [Y] unfolding as a double zigzag [W]-[X]-[Y], with sub-waves [W]-[X] completed inside. There is developing the motive wave [Y] as a simple zigzag (A)-(B)-(C). The sideways correction (B) has recently completed as a double three, and the price should be falling in the bearish impulse wave (C) to a level of 33605.00, where waves [W] and [Y] will be equal.

Trading plan for BTCUSD today:

Sell 39698.50,

Take profit: 33605.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 05.05.2022 | LiteFinance



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