Elliott wave Bitcoin analysis  31.05.2022

The BTCUSD previously suggested scenario of a long-term triangle pattern has been cancelled. The market seems to be going according to an alternative scenario, according to which, the (B) correction might have finished. The market has formed wave 1 as a bullish leading diagonal and corrective wave 2 as a double three [W]-[X]-[Y]. Impulse wave (3) should be forming, driving the price to a level of 36000, marked by corrective wave 4 of a smaller degree in the left part of the chart.

Trading plan for BTCUSD today:

Buy 31533.50,

Take profit: 36000.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 31.05.2022 | LiteFinance

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