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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.
All three cryptocurrencies are moving up.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues to form a new up wave (W) as a standard zigzag A-B-C. The A impulse is completed; the descending correction B is formed as a double zigzag [W]-[X]-[Y]. The upward wave C is currently unfolding as an impulse [1]-[2]-[3]-[4]-[5]. Soon, the last sub-wave [5] of this impulse should be developing. It will be completed around level 22845.00.
Trading plan for BTCUSD today:
Buy 20487.00, Take profit: 22845.00
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. Sub-waves (1)-(2)-(3)-(4) are completed, so in the near future the final sub-wave (5) will be unfolding. It will end at level 0.494, the high marked by correction 4.
Trading plan for XRPUSD today:
Buy 0.450, Take profit: 0.594
Elliott wave Ethereum analysis
Having completed the linking wave [X], the ETHUSD market has been rising in the upward impulse. Impulse wave (A) is currently unfolding. Sub-waves 1 and 2 have finished. Now the price continues to grow within the new impulse 3, consisting of sub-waves [1]-[2]-[3]-[4]-[5]. The Ethereum price should be rising to a level of 1662.15, the previous high marked by the sub-wave [3].
Trading plan for ETHUSD today:
Buy 1574.83, 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.
