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Elliott wave Bitcoin analysis 24.01.2022

The hourly BTCUSD chart displays the second half of the large down wave W unfolding as a simple zigzag with the bearish impulse wave [C] developing inside. The final sub-wave (5) is developing as an impulse within the [C] wave. Sub-waves 1-2-3-4 have completed in wave (5), and wave 5 hasn’t yet completed. The market should be declining in wave 5 towards a level of 32340.00. One could enter sell trades in the current situation.

Trading plan for BTCUSD today:

Sell 35848.50.

Take profit: 32340.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.01.2022 | LiteFinance


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