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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.
Cryptocurrency prices continue rising in bullish impulses.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market continues forming an uptrend as a standard zigzag A-B-C, with impulse A and correction B completed inside. Correction B is a double zigzag [W]-[X]-[Y]. The final upward wave C is currently unfolding as an impulse [1]-[2]-[3]-[4]-[5]. Sub-wave [3] is currently forming; it should finish at a level of 21244.00, where wave [3] will be 200% of wave [1].
Trading plan for BTCUSD today:
Buy 20758.00, Take profit: 21244.00
Elliott wave Ripple analysis
The XRPUSD market completed the linking wave XX and is forming the bullish wave [A] as an impulse (1)-(2)-(3)-(4)-(5), as outlined in the chart. The first upside target is at a high of 0.509, marked by wave A, the first wave of the triangle. At the indicated level, wave 3 of (3) should finish.
Trading plan for XRPUSD today:
Buy 0.470, Take profit: 0.509
Elliott wave Ethereum analysis
The ETHUSD market, having finished the linking wave [X], turned up and started rising. Sub-waves 1 and 2 have finished, as well as sub-waves [1]-[2]. The price now continues rising in the new impulse [3] of a smaller degree. The Ethereum price should be rising to a level of 1653.00, the previous high that is not visible in the current chart.
Trading plan for ETHUSD today:
Buy 1565.17, Take profit: 1653.00
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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.
