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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 market is developing according to the selected scenarios.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The last impulse wave C is under construction within the unfolding actionary wave (W). Wave C consists of five major sub-waves [1]-[2]-[3]-[4]-[5], where the first four parts have been completed. Shortly, expect bullish growth in the sub-wave [5]. Impulse C will be completed around the level of 22700.00, where it will be 123.6% of the previous impulse wave A.
Trading plan for BTCUSD today:
Buy 20782.08, 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. During the opening of buy trades the level of 0.472 serves as the first target for a take-profit. At this level, the impulse (A) is expected to end.
Trading plan for XRPUSD today:
Buy 0.378, Take profit: 0.472
Elliott wave Ethereum analysis
ETHUSD price should be rising within wave C, which consists of five main sub-waves [1]-[2]-[3]-[4]-[5]. Wave C will be completed around the previous high at 2024.38. Now its middle part, impulse [3], is unfolding. The price will rise in the above impulse to the level of 1856.00 and then decrease in correction [4] as shown in the chart.
Trading plan for ETHUSD for today:
Buy 1526.96, Take profit: 1856.00
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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.