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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 ETHUSD has completed the down linking wave [X]. The price should be rising and could reach the previous highs.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD is forming the motive down wave Y as a simple zigzag [A]-[B]-[C]. The bearish impulse wave [A] must have completed at a level of 1813.00. The price has been rising in the bullish correction [B], unfolding as a standard zigzag (A)-(B)-(C) that should finish at a level of 19895.00, where it will retrace the [A] impulse by 76.4%. When the market reaches the indicated level, the Bitcoin price could drop to a level of 1813.00 while forming wave [C].
Trading plan for BTCUSD today:
Buy 19822.50, Take profit: 19895.00
Elliott wave Ripple analysis
The XRPUSD market is declining in the [Y], forming as a part of the linking wave XX of a larger degree. Wave [Y] must be developing as a standard zigzag. So far, the first sub-wave (A) has completed as an impulse 1-2-3-4-5. The upward correction (B) must have also completed. The Ripple price should be falling in the bearish sub-wave (C) to a level of 0.414.
Trading plan for XRPUSD today:
Sell 0.497, Take profit: 0.414
Elliott wave Ethereum analysis
The ETHUSD market must have completed the linking wave [X] as a standard zigzag (A)-(B)-(C). The market must be forming the upward wave [Y] as a standard zigzag, with the first impulse wave (A) completed inside. The (A) wave could finish at a level of 1652.28, the high made by correction [2].
Trading plan for ETHUSD today:
Buy 1324.60, Take profit: 1652.28
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