Elliott wave Bitcoin analysis 31.01.2022

The BTCUSD market must have completed the down motive wave W, and the bullish linking wave X is currently unfolding as a double zigzag [W]-[X]-[Y], as outlined in the chart. The first two sub-waves [W]-[X] must have finished, and the final motive wave Y is developing as a double zigzag (W)-(X)-(Y). The pattern should end at a level of 41675.00, where wave [Y] will be equal to the [W] wave.

Trading plan for BTCUSD today:

Buy 36922.00.

Take profit: 41675.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 31.01.2022 | LiteFinance


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