Elliott wave Bitcoin analysis 18.02.2022

The BTCUSD is forming the initial part of the third leg in the global corrective trend, unfolding as a zigzag. Sub-waves W-X have completed, and there is unfolding the initial part of the final motive wave Y. There could be developing a bearish impulse (1)-(2)-(3)-(4)-(5). So far, the leading diagonal (1) and correction (2), a zigzag, have completed. The Bitcoin price should be declining in impulse (3) to a level below 36260.00, the low marked by the linking wave [X].

Trading plan for BTCUSD today:

Sell 40718.00.

Take profit: 36260.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.02.2022 | LiteFinance

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