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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 BTCUSD and ETHUSD markets should be forming small impulse waves.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is forming the bearish impulse wave (C) as a part of the linking wave [X]. 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 sub-wave 5, unfolding as an impulse [1]-[2]-[3]-[4]-[5], to a level of 18120.00, the low marked by the impulse sub-wave 3.
Trading plan for BTCUSD today:
Sell 19446.00, Take profit: 18120.00
Elliott wave Ripple analysis
The XRPUSD market has finished the liking wave X as a zigzag [A]-[B]-[C]. There is forming the motive wave [Y], with the first impulse wave [A] developing inside. The market should be forming sub-waves (4)-(5), moving to a level of 0.519, marked by the [B] correction.
Trading plan for XRPUSD today:
Buy 0.479, 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. There should be developing sub-wave [5] also as an impulse (1)-(2)-(3)-(4)-(5), as outlined in the chart. The price should be falling to a level of 1185.00, where wave (C) will be 100% of the (A) impulse.
Trading plan for ETHUSD today:
Sell 1328.32, 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.
