Elliott wave Bitcoin analysis  09.05.2022

The BTCUSD market continues forming the down correction (B) as a double zigzag W-X-Y. The final motive wave Y is unfolding as a standard zigzag [A]-[B]-[C], with impulse [A] and correction [B] completed inside. The final motive wave is currently unfolding as a simple five-wave impulse (1)-(2)-(3)-(4)-(5). The Bitcoin price should be falling in impulse (3) to a level of 33300.00, where it will be 123.6% of wave (1).

Trading plan for BTCUSD today:

Sell 34097.50,

Take profit: 33300.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.05.2022 | LiteFinance

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