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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
It is clear from the BTCUSD price chart that the bearish double zigzag [W]-[X]-[Y] is currently unfolding. Horizontal linking wave [X] took the shape of a double three (W)-(X)-(Y). At the moment, it looks completed. Shortly expect a bearish trend in wave [Y], within which the price will fall to the level of 14700.00. At this level, wave Y will be 61.8% of the previous wave W.
Trading plan for BTCUSD today:
Sell 16804.31, Take profit: 14700.00
Elliott wave Ripple analysis
The XRPUSD hourly timeframe shows the formation of a downward impulse wave C. It began to form after the completion of the contracting triangle B. Wave C consists of sub-waves ----. Now the final sub-wave  is unfolding as the impulse (1)-(2)-(3)-(4)-(5), which requires the completion of the last sub-wave (5). Its end is expected near the low of 0.298, marked by an impulse sub-wave (3).
Trading plan for XRPUSD today:
Sell 0.333, Take profit: 0.298
Elliott wave Ethereum analysis
The ETHUSD market forms a double zigzag Y, consisting of sub-waves [W]-[X]-[Y]. Side linking wave [X] has been completed as a double three. Therefore, in the near future, the price may decline within the actionary wave [Y] toward the level of 1050.00. The target is determined using the Fibonacci extension. At the indicated level, wave Y will be 50% of wave W.
Trading plan for ETHUSD for today:
Sell 1248.13, Take profit: 1050.00
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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.