Elliott wave Bitcoin analysis 22.02.2022

The BTCUSD market is developing a corrective trend in the shape of a double zigzag W-X-Y. As part of this pattern, sub-waves W and X are fully completed. Most likely, the initial part of the final actionary wave Y is under development now. Perhaps, a bearish impulse (1)-(2)-(3)-(4)-(5) is now being formed. The price is currently falling within impulse (3). It is assumed that the price will fall to the level of 35515.00. This level was previously marked by a bearish correction (B). In the current situation, it is reasonable to enter sales.

Trading plan for BTCUSD today:

Sell 36717.50.

Take profit: 35515.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 22.02.2022 | LiteFinance


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