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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 article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is building the initial part of a double zigzag, that is, the wave (W). It may soon unfold as a standard A-B-C zigzag. Impulse A and correction B are complete, while impulse C is unfolding. Sub-waves [1]-[2]-[3]-[4] were formed within impulse C. Thus, shortly expect the price to rise within the final sub-wave [5] towards the level of 22845.00.
Trading plan for BTCUSD today:
Buy 20525.22, Take profit: 22845.00
Elliott wave Ripple analysis
After the completion of the linking wave XX, the construction of a new zigzag wave by the XRPUSD market began, which will consist of sub-waves [A]-[B]-[C]. Now the first sub-wave [A] is unfolding as the leading diagonal judging by the internal structure. This diagonal will be completed near the 0.494 level, marked by minor correction 4. Then the price may correct within the bearish wave [B], as shown in the chart.
Trading plan for XRPUSD today:
Buy 0.459, Take profit: 0.494
Elliott wave Ethereum analysis
ETHUSD price is growing within the impulse (A). It serves as the initial part of a new bullish zigzag. Wave (A) is composed of five sub-waves 1-2-3-4-5, two of which are completed. Wave 3 will soon end around the level of 1662.15, marked by an impulse wave [3] of a smaller wave degree. The approximate future price movement is shown in the chart.
Trading plan for ETHUSD today:
Buy 1590.12, 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.
