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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
Bitcoin continues to develop the actionary wave W, consisting of three main sub-waves [A]-[B]-[C], two of which have already been completed. The last impulse wave [C] is currently unfolding. Inside the impulse [C], the third wave has been completed, so shortly expect a small decline in the correction (4) and then growth in the final wave (5). The price may rise to 28143.00.
Trading plan for BTCUSD today:
Buy 27921.29, Take profit: 28143.00
Elliott wave Ripple analysis
Ripple continues to build a large linking wave [X], consisting of waves (W)-(X)-(Y). The last actionary wave (Y) is currently unfolding. The internal structure of the wave (Y) is similar to the standard A-B-C zigzag. Impulse A and correction B have already been completed. The last impulse wave C is currently unfolding. The price has stopped correcting inside the sub-wave [4] of C. Now, the market is ready to grow in sub-wave [5] towards the high of 0.545.
Trading plan for XRPUSD today:
Buy 0.519, Take profit: 0.545
Elliott wave Ethereum analysis
The ETHUSD market is building a linking wave (X) as a double zigzag W-X-Y. The final actionary wave Y is currently unfolding as a zigzag [A]-[B]-[C]. Impulse [A] and zigzag correction [B] have been formed. Now, the price is rising within the impulse [C]. The first four parts of the impulse [C] have been completed. Thus, sub-wave (5) is currently unfolding. Its last two sub-waves 4 and 5 may end at the level of 1743.00.
Trading plan for ETHUSD for today:
Buy 1723.70, Take profit: 1743.00
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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.
