Elliott wave Bitcoin analysis 11.02.2022

The BTCUSD market has completed the bullish linking wave X as a double zigzag [W]-[X]-[Y], composed of two bullish zigzags connected with the linking wave [X]. Waves [W] and [Y] are zigzags composed of sub-waves (A)-(B)-(C). The impulse wave (C) has recently concluded wave [Y], and the market has turned down and started declining in the bearish impulse (1). The Bitcoin price should be moving down to a level of 41100, the low made by the previous corrective wave 4.

Trading plan for BTCUSD today:

Sell 43116.50.

Take profit: 41100.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.02.2022 | LiteFinance

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