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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 cryptocurrencies, covered in the article, should be rising in impulses.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD must have completed the bearish linking wave [X]. The market should be forming a bullish impulse wave, with the first two sub-waves (1)-(2) completed inside as an impulse and a correction. The price should be rising in sub-wave (3), unfolding as an impulse 1-2-3-4-5. Impulse (3) should end at a level of around 20751.00, where waves (1) and (3) will be equal.
Trading plan for BTCUSD today:
Buy 19293.50, Take profit: 20751.00
Elliott wave Ripple analysis
The XRPUSD market should be forming the bullish impulse wave [A], composed of sub-waves (1)-(2)-(3)-(4)-(5). Impulse (1) and correction (2) must have completed, so the price should continue rising in sub-wave (3) to a level of 0.557. Next, the market could roll down in the corrective wave (4), as outlined in the chart.
Trading plan for XRPUSD today:
Buy 0.459, Take profit: 0.557
Elliott wave Ethereum analysis
The ETHUSD market should be forming a zigzag (A)-(B)-(C), with the first wave (A) developing inside as an impulse 1-2-3-4-5. Sub-waves 1 and 2 must have finished, so the market should be rising in sub-wave 3 to a level of 1597.00.
Trading plan for ETHUSD today:
Buy 1303.62, 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.
