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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 BTCUSD and XRPUSD have formed corrective waves of a smaller degree as triangles. The prices could continue rising in bullish impulse sub-waves.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues forming the descending zigzag (A)-(B)-(C), with the first impulse wave (A) completed inside. The bullish correction (B) should be currently unfolding as a double zigzag W-X-Y. The first motive wave W is developing as a zigzag [A]-[B]-[C], where correction [B] is a triangle. The entire wave (B) could complete at a level of 23022.00, where it will be 61.8% of impulse (A).
Trading plan for BTCUSD today:
Buy 20036.50, Take profit: 23022.00
Elliott wave Ripple analysis
The XRPUSD is forming the initial part of the potential double zigzag, sub-wave W. Sub-wave W is developing as a triple zigzag [W]-[X]-[Y]-[X]-[Z], with the final sub-wave [Z] unfolding inside as a zigzag A-B-C, where correction B is a triangle. Sub-wave W should finish at a level of 0.408.
Trading plan for XRPUSD today:
Buy 0.325, Take profit: 0.408
Elliott wave Ethereum analysis
The ETHUSD market is forming the bearish wave [C] as a five-wave impulse (1)-(2)-(3)-(4)-(5). The first impulse wave (1) has completed, and bullish correction (2) should be developing as a zigzag A-B-C. The final impulse sub-wave C could conclude wave (2) at a level of 1720.00, marked by sub-wave 4.
Trading plan for ETHUSD today:
Buy 1551.79, Take profit: 1720.00
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