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I welcome my readers!

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.

Bitcoin is developing a horizontal contracting triangle. 

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin market is forming a triangle as part of a major correction B. This correction may end as a contracting triangle [A]-[B]-[C]-[D]-[E], as shown in the chart. Now the final actionary wave (Y), which is part of the corrective wave [C], is unfolding. It is expected to end at the level of 17900.00. At the indicated level, wave [C] will reach the 76.4% Fibonacci level of wave [B].

Trading plan for BTCUSD today:

Buy 17200.05, Take profit: 17900.00

Elliott wave Ripple analysis

XRPUSD is building a downward impulse wave C. It began to unfold after the completion of the contracting triangle B. Wave C consists of five sub-waves [1]-[2]-[3]-[4]-[5]. The final sub-wave [5] will unfold as the impulse (1)-(2)-(3)-(4)-(5). To complete this impulse, the last sub-wave (5) is required. It is expected to end around the low of 0.298, marked by an impulse sub-wave (3).

Trading plan for XRPUSD today:

Sell 0.349, Take profit: 0.298

Elliott wave Ethereum analysis

The ETHUSD market is building a complex correction B, which is part of a larger zigzag wave (Y). Correction B may end as a double zigzag [W]-[X]-[Y]. This requires the final sub-wave [Y]. The price within the sub-wave [Y] may rise again to the high of 1355.00, where the first actionary sub-wave [W] was completed earlier. In the current situation, it is reasonable to consider opening long trades.

Trading plan for ETHUSD for today:

Buy 1304.57, Take profit: 1355.00

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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.

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