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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 is forming wave [C] as an impulse (1)-(2)-(3)-(4)-(5), with the final wave (5) unfolding inside. Impulse wave 3 of (5) must have completed, and the price is declining in correction 4. When correction 4 finishes, the market will resume rising in sub-wave 5 to a level of 55809.00, where wave (5) will be 76.4% of wave (3).
Trading plan for BTCUSD today:
Buy 51144,65, Take profit: 55809.00
Elliott wave Ripple analysis
The XRPUSD market is forming a triple zigzag, with four sub-waves completed inside. The price is rising in impulse [1], composed of sub-waves (1)-(2)-(3)-(4)-(5). The final impulse (5) is currently forming. The price could reach a level of 0.603.
Trading plan for XRPUSD today:
Buy 0.533, Take profit: 0.603
Elliott wave Ethereum analysis
The ETHUSD market is forming the final impulse wave C within the zigzag-shaped wave (Z). Sub-waves [1]-[2]-[3] must have completed within the C wave. The Ethereum price should decline in correction [4] to a level of around 2747.01. Next, the Ethereum price should resume rising in the final sub-wave [5] to a level of 3054.00. One could enter new long trades at the ending level of wave [4].
Trading plan for ETHUSD for today:
Buy limit 2747.01, Take profit: 3054.00
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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.
