Elliott wave Bitcoin analysis  17.05.2022

The BTCUSD market is forming a descending correction (B) as a double zigzag. There is developing the bearish motive wave Y as a standard zigzag. So far, impulse [A] and bullish correction [B] have finished. The first three sub-waves (1)-(2)-(3) have completed in the down impulse wave [C]. Correction (4) should continue forming as a double zigzag [W]-[X]-[Y] up to a level of 32641.00, where wave (4) will retrace impulse (3) by 50%.

Trading plan for BTCUSD today:

Buy 29835.00,

Take profit: 32641.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.05.2022 | LiteFinance



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