I welcome my readers!
I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
Impulses should continue for all cryptocurrencies, covered in the article.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD hourly chart displays a new corrective pattern unfolding as a zigzag A-B-C, which started after the completion of the large linking wave [X]. The upward impulse wave A must have completed at a level of 19953.00. Next, the price was corrected down in the bearish wave B. The Bitcoin price should be rising in the new impulse wave to a level above the high of 19953.00.
Trading plan for BTCUSD today:
Buy 19379.00, Take profit: 19953.00
Elliott wave Ripple analysis
The XRPUSD market could be forming a bullish zigzag, with the impulse wave [A] developing inside. Sub-waves (1)-(2) must have completed within the [A] impulse. The Ripple price should be climbing up in the impulse wave (3) to a level above 0.510, the previous high, marked by the A wave.
Trading plan for XRPUSD today:
Buy 0.453, Take profit: 0.510
Elliott wave Ethereum analysis
After the linking wave [X] finished, the ETHUSD market reversed and started forming the initial part of the potential impulse. Sub-waves 1 and 2 have finished, as well as sub-waves [1]-[2]. The price now continues rising in the new impulse [3] of a smaller degree. The Ethereum price should be rising over the next few days to a level of 1382.00, the previous high, marked by the large corrective wave 4.
Trading plan for ETHUSD today:
Buy 1345.89, Take profit: 1382.00
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The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
