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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
An ascending actionary wave (W), which is the first part of a large double zigzag, is unfolding as a standard A-B-C zigzag. As part of impulse C, the impulse wave [3] has come to an end, so soon, expect a small correction down within the correction [4]. It can take the shape of a zigzag. After that, the price will continue to grow within the sub-wave [5]. It is expected to end near the level of 22700.00.
Trading plan for BTCUSD today:
Buy 21155.57, Take profit: 22700.00
Elliott wave Ripple analysis
The XRPUSD market continues to build a linking wave (X) of a large double zigzag. The (X) internal structure looks like a double zigzag W-X-Y. Now the last actionary sub-wave Y unfolds as a double zigzag [W]-[X]-[Y] of a smaller degree. Shortly expect the formation of an ascending sub-wave [Y] since the linking wave [X] looks like a completed double three (W)-(X)-(Y). Expect wave [Y] to end around the level of 0.557. In the current situation, consider opening long trades.
Trading plan for XRPUSD today:
Buy 0.383, Take profit: 0.557
Elliott wave Ethereum analysis
ETHUSD is building a linking wave [X] as a double zigzag (W)-(X)-(Y). The actionary wave (Y) is a standard A-B-C zigzag. The first two parts, impulse A and correction B, have been completed. The last impulse wave C is still unfolding. Soon, expect growth in sub-waves [3]-[4]-[5] towards the level of 2024.38.
Trading plan for ETHUSD for today:
Buy 1568.18, Take profit: 2024.38
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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.