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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 XRPUSD and ETHUSD should be forming descending patterns over the next few days.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the large linking wave [X] composed of sub-waves (W)-(X)-(Y). The final bearish wave (Y) is currently unfolding as a double zigzag W-X-Y, with sub-waves W and X completed inside. Wave W is a simple zigzag, the linking wave X is a bullish double zigzag [W]-[X]-[Y]. The market is now declining in the motive wave Y, unfolding as a zigzag [A]-[B]-[C]. Impulse [A] must have completed, and the Bitcoin price should be rising in the [B] correction to a level of 19690.46, where wave [B] will retrace the [A] wave by 50%.

Trading plan for BTCUSD today:

Buy 18950.00, Take profit: 19690.46

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Elliott wave Ripple analysis

The XRPUSD market is forming the second linking wave XX as a part of the triple zigzag of a larger degree. The XX wave is unfolding as a double zigzag [W]-[X]-[Y]. The motive zigzag-shaped wave [W] and the linking wave [X], as double zigzag (W)-(X)-(Y), have completed. The Ripple market should be forming the descending sub-wave [Y] as a zigzag, which should finish at a level of 0.414. 

Trading plan for XRPUSD today:

Sell 0.490, Take profit: 0.414

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Elliott wave Ethereum analysis

The ETHUSD is forming the bearish wave [X] as a standard zigzag (A)-(B)-(C). Bullish correction (B) completed in early September, and the Ethereum price has been declining in the bearish impulse wave (C), composed of five sub-waves 1-2-3-4-5. The sideways correction 4 must have completed as a double three. The market is now falling in sub-wave 5 that should finish at a level of 1214.00, marked by impulse 3.

Trading plan for ETHUSD today:

Sell 1269.34, Take profit: 1214.00

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