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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
BTCUSD is forming the last impulse wave C, which is part of the zigzag (W). Wave C consists of sub-waves [1]-[2]-[3]-[4]-[5], where the first four parts have been completed. Now the final impulse sub-wave [5] is being formed, for the completion of which only the last part, sub-wave (5) is required. Shortly the price will rise to the level of 24040.00, where impulses [3] and [5] will be equal.
Trading plan for BTCUSD today:
Buy 23038.86, Take profit: 24040.00
Elliott wave Ripple analysis
Ripple builds wave Y as a double zigzag [W]-[X]-[Y], where sub-waves [W] and [X] have already been completed. Now the initial part of the final actionary wave [Y] is unfolding as a standard zigzag (A)-(B)-(C), as shown in the chart. The first impulse sub-wave (A) will end at the level of 0.466, then the price may roll back a little in the correction (B).
Trading plan for XRPUSD today:
Buy 0.417, Take profit: 0.466
Elliott wave Ethereum analysis
The ETHUSD market forms an upward impulse wave C, the final one in the unfolding zigzag (Y). Wave C consists of sub-waves [1]-[2]-[3]-[4]-[5]. Now the middle sub-wave [3] is being built as an impulse (1)-(2)-(3)-(4)-(5). It is expected to end near the level of 1799.00. Then expect a slight decrease in the correction [4], after which the sub-wave [5] will start unfolding. A possible price movement is shown in the chart.
Trading plan for ETHUSD for today:
Buy 1632.90, Take profit: 1799.00
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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.