Dear readers,
I've prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.
The article covers the following subjects:
Elliott Wave analysis for Bitcoin
The first impulse sub-wave (1), consisting of sub-waves 1-2-3-4-5, is completed in the last segment of the chart. A bullish correction (2) is currently unfolding, supposedly as a zigzag. As part of the wave (2) there formed sub-wave A and correction B. The price is currently growing in the ultimate part of impulse C, which will end near the level of 46508.00.
Trading plan for BTCUSD for today:
Buy 46172.88, Take profit: 46508.00
Elliott Wave analysis for Ripple
The pair continues forming a linking wave XX shaped as a double zigzag [W]-[X]-[Y]. The ultimate wave [Y] is currently developing as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). Impulse wave A is formed as part of the ultimate wave (Z). The market is currently moving in correction B, expected to end at around 0.548. At that level, the size of wave B will be 50% of wave A.
Trading plan for XRPUSD for today:
Buy 0.512, Take profit: 0.548
Elliott Wave analysis for Ethereum
The ETHUSD pair is forming the initial part of a bearish trend. A double zigzag (W)-(X)-(Y) is likely unfolding at the moment. The first actionary wave (W) is completed, and a linking-wave (X) is currently developing, looking almost complete. The price is expected to grow in the final part of impulse C to 2501.00 in the near time. The size of wave (X) will be 61.8% of wave (W) at that level.
Trading plan for ETHUSD for today:
Buy 2446.20, Take profit: 2501.00
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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.
