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Elliott wave Bitcoin analysis  01.03.2022

The BTCUSD market is forming the down motive wave Y as a double zigzag [W]-[X]-[Y]. The first sub-wave [W] may have completed as a bearish zigzag (A)-(B)-(C). There is developing the linking wave [X] as a simple zigzag (A)-(B)-(C). The Bitcoin price should be rising in the (C) impulse to a level of 45920.00, as outlined in the chart. Next, the market will be falling in the motive wave [Y].

Trading plan for BTCUSD today:

Buy 43295.00.

Take profit: 45920.00

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.03.2022 | LiteFinance


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