I welcome my readers!
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.
Bullish trends continue forming. Next week, cryptocurrency prices could go down a little in short corrections.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues forming the new uptrend as a standard zigzag A-B-C. The A impulse completed; the descending correction B formed as a double zigzag [W]-[X]-[Y]. The upward wave C is currently unfolding as an impulse [1]-[2]-[3]-[4]-[5]. Sub-wave [3], currently developing, should finish at a level of 21244.00, where it will be 200% of sub-wave [1].
Trading plan for BTCUSD today:
Buy 20279.50, Take profit: 21244.00
Elliott wave Ripple analysis
The XRPUSD market 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 sub-wave A, the first leg of the triangle. At the indicated level, wave 3 of (3) should finish.
Trading plan for XRPUSD today:
Buy 0.462, Take profit: 0.509
Elliott wave Ethereum analysis
Having completed the linking wave [X], the ETHUSD market has been rising in the new impulse. 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 1504.92, Take profit: 1653.00
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.
