Elliott wave Bitcoin analysis 23.05.2022

The BTCUSD continues forming the bearish zigzag [A]-[B]-[C], with the final wave [C] unfolding inside as a bearish impulse (1)-(2)-(3)-(4)-(5). There is developing corrective wave (4) as a double zigzag W-X-Y. Sub-waves W and X must have completed, so the price chart should be drawing the final motive wave Y, which should finish at a level of 32620.00. At the indicated level, wave (4) will be 50% of impulse (3).

Trading plan for BTCUSD today:

Buy 30159.50,

Take profit: 32620.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 23.05.2022 | LiteFinance




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