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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
The last impulse wave C is currently under construction within the unfolding wave (W). Wave C consists of five major sub-waves [1]-[2]-[3]-[4]-[5]. The first four parts of this impulse have been completed. Soon, expect bullish growth in the sub-wave [5]. Impulse C will be complete around the level of 22700.00, where it will be 123.6% of the previous impulse wave A.
Trading plan for BTCUSD today:
Buy 21282.39, Take profit: 22700.00
Elliott wave Ripple analysis
The most recent XRPUSD chart section displays the formation of a double zigzag [W]-[X]-[Y]. The actionary wave [W] and the linking wave [X] have already been completed. Now the initial part of wave [Y] is unfolding as a standard zigzag (A)-(B)-(C), as shown in the chart. It is expected to end around the level of 0.557. Focus on the level of 0.472 as the first target for a take profit during purchases. The impulse (A) may end at the level of 0.472.
Trading plan for XRPUSD today:
Buy 0.385, Take profit: 0.472
Elliott wave Ethereum analysis
ETHUSD market shows impulsive growth within wave C, consisting of five main sub-waves [1]-[2]-[3]-[4]-[5]. This wave will be completed around the previous high at 2024.38. Currently, the middle part, impulse [3], is unfolding. The price will rise in the indicated impulse to the level of 1856.00 and then decline in correction [4], as shown in the chart.
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.