Elliott wave Bitcoin analysis 06.06.2022

The BTCUSD is forming the descending corrective wave W as the first wave in the potential double zigzag W-X-Y. Wave W is unfolding as a standard zigzag [A]-[B]-[C] that should end soon. There is unfolding the descending impulse wave [C], with the final sub-wave (5) developing inside as a simple impulse 1-2-3-4-5, as outlined in the chart. Wave (5) should finish at a level of 25200.00, the previous low marked by impulse (3).

Trading plan for BTCUSD today:

Sell 29960.00,

Take profit:  25200.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 06.06.2022 | 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.