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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 continues forming the zigzag-shaped linking wave [X] composed of three sub-waves (A)-(B)-(C). The final sub-wave (C) is unfolding as an impulse 1-2-3-4-5. The first four sub-waves 1-2-3-4 have completed. The Bitcoin price should be falling in the final sub-wave [5] of 5 to a level of 18120.00, the low marked by the impulse sub-wave 3.
Trading plan for BTCUSD today:
Sell 19558.00, Take profit: 18120.00
Elliott wave Ripple analysis
The XRPUSD market has dropped in the linking sub-wave X of the double zigzag W-X-Y. The X wave has completed as a standard zigzag [A]-[B]-[C]. The price should be rising in the Y wave, developing as a zigzag [A]-[B]-[C], as outlined in the chart. Impulse [A] should end at a level of 0.519.
Trading plan for XRPUSD today:
Buy 0.441, Take profit: 0.519
Elliott wave Ethereum analysis
The ETHUSD continues forming the bearish linking wave [X] as a zigzag (A)-(B)-(C). The final wave (C) is developing as an impulse 1-2-3-4-5, with the final wave 5 unfolding inside. Correction [4] must have completed within wave 5. The price should be declining in the final sub-wave [5] to a level of 1185.00, where wave (C) will be 100% of the (A) impulse.
Trading plan for ETHUSD today:
Sell 1340.49, Take profit: 1185.00
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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.
