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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.
The Ripple market is building the initial part of a potential standard zigzag that looks like a leading diagonal.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is building the first actionary wave (W) of a potential double zigzag. Wave (W) may soon end as a standard zigzag A-B-C. There could be unfolding upward impulse wave C, within which the correction [4] recently ended. Therefore, shortly expect the price to rise within the sub-wave [5] towards the high of 22845.00.
Trading plan for BTCUSD today:
Buy 20520.50, Take profit: 22845.00
Elliott wave Ripple analysis
The most recent XRPUSD chart section displays the formation of the initial part of a potential standard zigzag [A]-[B]-[C]. Most likely, sub-wave [A] unfolding as leading diagonal (1)-(2)-(3)-(4)-(5). The last sub-wave (5) is needed to complete the leading diagonal. It is expected to fully unfold at the level of 0.494, marked by a correction 4. Zigzag [A]-[B]-[C] can be completed at a high of 0.549.
Trading plan for XRPUSD today:
Buy 0.457, Take profit: 0.494
Elliott wave Ethereum analysis
The most recent ETHUSD chart section shows the formation of an upward wave (A) as an impulse, judging by the internal structure. The first two sub-waves (1 and 2) of the potential impulse are completed. Right now, bullish impulse wave 3 is unfolding. It may end around the level of 1662.15, which is the high, marked by a sub-wave [3]. After that, a slight correction 4 is expected.
Trading plan for ETHUSD today:
Buy 1589.47, Take profit: 1662.15
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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.
