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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 XRPUSD could finish the bearish linking wave [X], so the price will be rising in sub-wave [Z].
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues forming the descending wave (Y), which will conclude the linking wave [X]. The (Y) wave should finish as a standard zigzag A-B-C. The bearish impulse wave A has completed. Correction B has also finished; it is a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The final impulse sub-wave C is currently developing as an impulse ----, which could finish at a level around 18500.00.
Trading plan for BTCUSD today:
Sell 18617.00, Take profit: 18500.00
Elliott wave Ripple analysis
The XRPUSD is forming the linking wave [X] in the triple zigzag [W]-[X]-[Y]-[X]-[Z] of a larger degree. The [X] wave is unfolding as a double zigzag (W)-(X)-(Y), with the first wave (Y) developing inside. The (Y) wave could end at a level of 0.307, where it will be 161.8% of wave (W).
Trading plan for XRPUSD today:
Sell 0.313, Take profit: 0.307
Elliott wave Ethereum analysis
The ETHUSD market is forming the bearish wave [C] as an impulse (1)-(2)-(3)-(4)-(5). Correction (2) must have completed as a zigzag A-B-C. The price should be moving in sub-waves (3)-(4)-(5) to a level of 850.00, as outlined in the chart. One could enter sell trades with a take profit at the end of the [C] impulse.
Trading plan for ETHUSD today:
Sell 1498.54, Take profit: 850.00
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