Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.09.2022

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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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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.

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