Elliott wave Bitcoin analysis    12.05.2022 

The BTCUSD continues developing the simple bearish zigzag [A]-[B]-[C], with the final wave [C] unfolding inside. The [C] wave must be developing as a simple bearish impulse (1)-(2)-(3)-(4)-(5). Sub-waves (1) and (2) have completed, and wave (3) is developing as a bearish impulse 1-2-3-4-5, with final sub-wave 5 developing inside. Sub-wave 5 is composed of waves [1]-[2]-[3]-[4]-[5]. The price should be falling in wave [5] to a level of 26845.00, where wave [5] will be equal to the previous impulse wave [3].

Trading plan for BTCUSD today:

Sell 29431.27,

Take profit: 26845.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.05.2022 | LiteFinance

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