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

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.