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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.
Each cryptocurrency moves up in bullish impulses.
The article covers the following subjects:
Elliott wave Bitcoin analysis
Corrective wave [4], which is part of impulse C, has been completed as a triangle (A)-(B)-(C)-(D)-(E). Soon expect the development of the final impulse wave [5], which may end around the level of 24283.28, marked by corrective sub-wave (D), and possibly a little higher. In the current situation, consider opening long trades.
Trading plan for BTCUSD today:
Buy 22896.54, Take profit: 24283.28
Elliott wave Ripple analysis
Wave (X) is unfodling as double zigzag W-X-Y. The last actionary wave Y looks like a standard zigzag [A]-[B]-[C]. Impulse [A] and correction [B] have been completed. Now the last sub-wave [C] is unfolding. Wave [C] may take the shape of impulse (1)-(2)-(3)-(4)-(5), as shown in the chart. The first two small sub-waves (1) and (2) have been completed. Soon expect growth in the third sub-wave towards the level of 0.508.
Trading plan for XRPUSD today:
Buy 0.393, Take profit: 0.508
Elliott wave Ethereum analysis
The ETHUSD market is constructing a sub-wave [3] of the impulse wave C. Sub-waves (1)-(2)-(3)-(4) have been completed as part of the impulse [3]. Correction (4) has a horizontal internal structure and serves as a double three W-X-Y. Shortly, expect growth in the final sub-wave (5), which may rise to the level of 1789.20. Future price movement is outlined in the chart.
Trading plan for ETHUSD for today:
Buy 1631.92, Take profit: 1789.20
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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.