Short-term forecast for BTCUSD, XRPUSD and ETHUSD 08.09.2022

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 must have finished the bearish linking wave [X], and the chart should be forming a bullish zigzag-shaped pattern.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the inking wave [X] as a double zigzag (W)-(X)-(Y). Sub-waves (W) and (X) have finished, and the bearish motive wave (Y) is currently forming as a standard zigzag A-B-C. The B correction has recently completed, and the price is falling in the C impulse composed of sub-waves [1]-[2]-[3]-[4]-[5]. The C impulse should finish at a level of 18500.00.

Trading plan for BTCUSD today:

Sell 19294.10, Take profit: 18500.00

Elliott wave Ripple analysis

The XRPUSD market is forming the inceptive part of a large bullish corrective trend as a double zigzag W-X-Y. At the time of writing, sub-wave W is unfolding as a triple zigzag [W]-[X]-[Y]-[X]-[Z], with the final wave [Z] unfolding inside as a standard zigzag (A)-(B)-(C). The [Z] wave should end at a level of 0.408.

Trading plan for XRPUSD today:

Buy 0.331, Take profit: 0.408

Elliott wave Ethereum analysis

The ETHUSD market is forming the bearish linking wave (X) as a triple zigzag W-X-Y-X-Z, with the final motive wave Z developing inside as a simple zigzag [A]-[B]-[C]. The final bearish wave [C] is unfolding as an impulse (1)-(2)-(3)-(4)-(5). The first two sub-waves of the impulse must have completed, and the price should be falling in sub-wave (3) to a level of 850.00. 

Trading plan for ETHUSD today:

Sell 1624.40, 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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