Elliott wave Bitcoin analysis  28.04.2022

Bitcoin is developing a bearish double zigzag. The BTC market has completed two sub-waves [W]-[X] in the form of simple zigzags. Now the initial part of the bearish wave is unfolding as an impulse (1)-(2)-(3)-(4)-(5). The bullish correction (2) has recently come to an end. Now there is a decrease in the sub-wave (3), which will end at level 34780.00. At this level, impulse wave (3) will reach the Fibonacci level of 123.6% of wave (1). An approximate trajectory of Bitcoin’s future price movement is outlined in the chart.

Trading plan for BTCUSD today:

Sell 39083.00,

Take profit: 34780.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 28.04.2022 | 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.