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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 BTCUSD market continues to build a bullish wave as the impulse (1)-(2)-(3)-(4)-(5). Now the last sub-wave (5) is unfolding as a simple impulse. Soon the price in sub-wave (5) will rise to the level of 24040.00, at which the entire impulse [5] will be 76.4% of the previous impulse [3]. After reaching the specified level, expect the trend reversal.
Trading plan for BTCUSD today:
Buy 23698.25, Take profit: 24040.00
Elliott wave Ripple analysis
Ripple is forming wave [Y], which serves as the final actionary wave in the double zigzag Y. It can take the shape of a standard zigzag (A)-(B)-(C), but so far the first impulse (A) is unfolding. Correction 4 has been completed, so shortly expect the development of the final sub-wave 5. It is expected to end around the level of 0.470.
Trading plan for XRPUSD today:
Buy 0.412, Take profit: 0.470
Elliott wave Ethereum analysis
The last section of the ETHUSD chart shows an impulse structure. Impulse C, or rather its middle part, a sub-wave [3] is unfolding. Within this sub-wave, sub-waves (1)-(2)-(3)-(4) have been completed. Shortly expect bullish growth in the final sub-wave (5), which may rise to the level of 1872.00. A possible price movement is shown in the chart.
Trading plan for ETHUSD for today:
Buy 1633.72, Take profit: 1872.00
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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.