Elliott wave Bitcoin analysis 07.03.2022

The BTCUSD continues forming the down motive wave Y, which is a part of the double zigzag. The Y wave is also a double zigzag, with the first two sub-waves [W]-[X] completed inside. There is forming the final sub-wave [Y], possibly unfolding as a simple zigzag (A)-(B)-(C). The down impulse wave (A) must have completed. After a short corrective wave (B) completes, the BTCUSD will continue falling in the impulse sub-wave (C) to a level of 34288.00, as outlined in the chart.

Trading plan for BTCUSD today:

Sell 37910.00.

Take profit: 34288.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 07.03.2022 | LiteFinance

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