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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
Bitcoin reached the previous target. However, wave (5) does not look complete. Thus, expect further price growth. The bulls will help the market rise to the level of 24500.00, at which the impulse (5) will reach the Fibonacci level of 61.8% of the previous impulse wave (3). Shortly, sub-waves 4-5 will be unfolding. A possible price movement is shown in the chart.
Trading plan for BTCUSD today:
Buy 23858.11, Take profit: 24500.00
Elliott wave Ripple analysis
The final actionary wave [Y] continues unfolding as a zigzag (A)-(B)-(C). Wave (A) serves as a leading diagonal, as sideways correction 4, which has a double three shape, has gone below the end of sub-wave 1. Soon, expect the development of the last sub-wave 5. Thus the price may rise to the level of 0.470. A possible price movement is shown in the chart.
Trading plan for XRPUSD today:
Buy 0.413, Take profit: 0.470
Elliott wave Ethereum analysis
Ethereum continues to form impulse C. Now sub-wave [3] is unfolding. Sub-waves (1)-(2)-(3)-(4) have been completed inside it. Correction (4) has a horizontal internal structure and serves as a double three. Shortly, expect bullish growth in the final sub-wave (5), which may rise to the price level of 1872.00. A possible price movement is shown in the chart.
Trading plan for ETHUSD for today:
Buy 1673.49, Take profit: 1872.00
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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.