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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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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.
