Short-term forecast for BTCUSD, XRPUSD and ETHUSD 07.09.2022

I welcome my readers!

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 [1]-[2]-[3]-[4]-[5], 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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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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