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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 article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD has started forming a bullish trend as an impulse (1)-(2)-(3)-(4)-(5). The first impulse wave (1) finished, and correction (2) completed as a zigzag A-B-C. The Bitcoin price should be rising in wave (3) to a level of 21106.00, where wave (3) will be 123.6% of wave (1).
Trading plan for BTCUSD today:
Buy 19153.00, Take profit: 21106.00
Elliott wave Ripple analysis
The XRPUSD is forming the bullish wave [A] as a five-wave impulse (1)-(2)-(3)-(4)-(5). Impulse (1) and correction (2) must have finished, and the price should be rising in wave (3) to a high of 0.557. Next, the market could be falling in sub-wave (4) as outlined in the chart.
Trading plan for XRPUSD today:
Buy 0.457, Take profit: 0.557
Elliott wave Ethereum analysis
The ETHUSD is forming a potential zigzag (A)-(B)-(C), with wave (A) developing inside. Wave (A) is likely to be unfolding as an impulse 1-2-3-4-5, as outlined in the chart. Sub-waves 1 and 2 have completed so far. The Ethereum price should be rising in sub-wave 3 to a level of 1597.00.
Trading plan for ETHUSD today:
Buy 1291.98, 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.
