Elliott wave Bitcoin analysis 14.02.2022

The BTCUSD market is forming a descending double zigzag. In late January, the down motive wave W finished. Next, the market completed the bullish linking wave X as a double combination [W]-[X]-[Y]. The market is moving down in the most recent chart section, and there is forming a new bearish wave. There could be developing the initial part of an impulse. The first sub-wave (1) has finished as a leading diagonal. The Bitcoin price should be rising in correction (2) to a level of 44173.00, where wave (2) will retrace wave (1) by 61.8%.

Trading plan for BTCUSD today:

Buy 41924.50.

Take profit: 44173.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 14.02.2022 | LiteFinance

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