Elliott wave Bitcoin analysis  16.05.2022

The BTCUSD is forming the bearish wave [C], the final leg of the standard zigzag [A]-[B]-[C]. Wave [C] is unfolding as a five-wave impulse (1)-(2)-(3)-(4)-(5). The bearish impulse (3) has completed, and a short bullish corrective wave (4) is currently unfolding as a zigzag A-B-C. Wave (4) could end at a level of 32641.00, where it will retrace impulse (3) by 50%.

Trading plan for BTCUSD today:

Buy 30865.00,

Take profit: 32641.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 16.05.2022 | LiteFinance

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