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:
Highlights and key points
- BTCUSD: correction [4] is expected to develop. Consider long positions from the current level with Take Profit at 57883.00.
- XRPUSD: the price is growing in impulse (C). Consider buying from the current level with Take Profit at 0.704.
- ETHUSD: the price may rise in correction (4). Consider buying with Take Profit at 2583.00.
Elliott Wave analysis for Bitcoin
The BTCUSD crypto pair is presumably forming a bullish wave (Z) in the last segment of the chart. It will most likely form as a simple zigzag A-B-C, as shown in the chart. The first impulse wave A is currently developing, and its first three subwaves [1]-[2]-[3] look completed. The price is expected to rise in correction [4] in the near time, which may develop as a zigzag (A)-(B)-(C) and end at around 57883.00.
Trading plan for BTCUSD for today:
Buy 56971.15, Take profit: 57883.00
Elliott Wave analysis for Ripple
The XRPUSD crypto-pair may be forming a linking wave [X], most likely as a simple zigzag (A)-(B)-(C). Its impulse subwave (A) is likely completed. Also, correction (B) may have developed as a zigzag A-B-C. The price may rise in the final impulse wave (C) shortly. Subwaves 3-4-5 are projected to reach the level of 0.704.
Trading plan for XRPUSD for today:
Buy 0.599, Take profit: 0.704
Elliott Wave analysis for Ethereum
Ethereum continues forming a complex correction (B) as a double zigzag W-X-Y. An actionary zigzag-shaped wave Y, which consists of subwaves [A]-[B]-[C], may be unfolding at the moment. Impulse [A] and correction [B] are formed, and the final subwave [C] is currently developing. The price is expected to grow in impulse [C] to 2583.00 in the near time, where the size of wave (4) will be 38.2% of wave (3).
Trading plan for ETHUSD for today:
Buy 2427.99, Take profit: 2583.00
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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.
