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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 prices should be rising in impulse patterns.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD should be forming the upward linking wave X as a part of the large double zigzag. The X wave must be unfolding as a double zigzag [W]-[X]-[Y]. The first motive wave [W] has completed as a bullish triple zigzag (W)-(X)-(Y)-(XX)-(Z). The linking down wave [X] should soon end as a double zigzag (W)-(X)-(Y) at a level of 18131.00, where waves (W) and W completed. Next, the market could turn up and start rising in the large motive wave [Y].
Trading plan for BTCUSD today:
Sell 19229.00, Take profit: 18131.00
Elliott wave Ripple analysis
The XRPUSD market must have completed the second linking wave XX as a part of the bullish triple zigzag. The XX wave is a flat [A]-[B]-[C]. The final motive wave Z must be unfolding as a standard zigzag [A]-[B]-[C], as outlined in the chart. The impulse wave [A] should end at a level of 0.557, marked by the motive wave Y.
Trading plan for XRPUSD today:
Buy 0.468, Take profit: 0.557
Elliott wave Ethereum analysis
The ETHUSD must have completed the descending linking wave [X] as a standard (A)-(B)-(C). There should be forming the initial part of the new zigzag-shaped pattern, the upward wave (A) is unfolding as an impulse 1-2-3-4-5, as outlined in the chart. The first sub-waves 1 and 2 must have completed, and the Ethereum price should rising in sub-wave 3 to a level of 1597.00.
Trading plan for ETHUSD today:
Buy 1303.59, Take profit: 1597.00
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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.
