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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.
All cryptocurrencies are developing according to previously provided forecasts.
The article covers the following subjects:
Elliott wave Bitcoin analysis
Correction (4) continues to develop as a triple zigzag. Sub-waves W-X-Y have been completed. Now, the price is moving up in the linking sub-wave XX. It will soon take the shape of the standard zigzag [A]-[B]-[C]. After the completion of a small downward correction [B], expect the development of an impulse [C]. The price may rise to the level of 71635.77, which is located on the upper trend line.
Trading plan for BTCUSD today:
Buy 64516.57, Take profit: 71635.77
Elliott wave Ripple analysis
The XRPUSD market continues to develop a long-term corrective linking wave XX as a double zigzag [W]-[X]-[Y]. The initial part of the new double zigzag is under construction right now. The actionary wave (W) has been completed as a standard zigzag. Soon, expect a fall in the linking wave [X] to a low of 0.461, marked by correction (B).
Trading plan for XRPUSD today:
Sell 0.528, Take profit: 0.461
Elliott wave Ethereum analysis
Correction (4), which has the shape of an A-B-C zigzag, continues to develop. Impulse wave A and correction B have been completed. Bearish impulse wave C is currently unfolding. Sub-waves [1]-[2]-[3] and zigzag correction [4] have come to an end. Soon, expect a price decline in the sub-wave [5]. Wave [5] may be truncated, so it may end at the support line and the level of 2923.97.
Trading plan for ETHUSD for today:
Sell 3147.85, Take profit: 2923.97
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Price chart of BTCUSD in real time mode
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.
