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.
Bitcoin and Ripple are forming bearish zigzags of a smaller degree.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD is forming the down motive (Y) as a double zigzag W-X-Y, with the final wave Y unfolding inside as a simple zigzag [A]-[B]-[C], similar to wave W. The impulse down wave [A] must have completed, and the Bitcoin price will be rising in the upward correction [B] to a level of 19633.00, where wave [B] will retrace the [A] by half.
Trading plan for BTCUSD today:
Buy 19052.00, Take profit: 19633.00
Elliott wave Ripple analysis
The XRPUSD market is forming the second linking wave XX as a double zigzag [W]-[X]-[Y], with the final sub-wave [Y] developing inside as a standard zigzag (A)-(B)-(C). The Ripple price should be declining in the impulse wave (C) to a level of 0.414, marked by the motive wave [W].
Trading plan for XRPUSD today:
Sell 0.485, Take profit: 0.414
Elliott wave Ethereum analysis
The ETHUSD market is forming the down impulse wave (C), with sub-waves 1-2-3-4 completed inside; waves 1 and 3 are impulses, 2 and 4 are corrections. The final wave 5 is currently developing and should finish at a level of 1214.00, marked by impulse 3. One could enter short trades with a take profit at the end of the (C) wave.
Trading plan for ETHUSD today:
Sell 1283.69, Take profit: 1214.00
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.
