Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.09.2022

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 BTCUSD and XRPUSD have completed bearish waves as double zigzags and should be forming new waves as simple zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market must have completed the bearish linking wave [X] as a double zigzag (W)-(X)-(Y). The market has turned up and started forming the initial part of the upward motive wave [Y] unfolding as a standard zigzag (A)-(B)-(C). The first impulse sub-wave (A) could end at a level of 21880.00, marked by the (X) wave.

Trading plan for BTCUSD today:

Buy 20264.00, Take profit: 21880.00

Elliott wave Ripple analysis

The XRPUSD has finished the large linking wave [X] as a double zigzag. The market is forming the initial part of the motive wave [Z] as a standard zigzag (A)-(B)-(C), as outlined in the chart. The [Z] wave could end at a level of 0.408. One could consider entering long trades.

Trading plan for XRPUSD today:

Buy 0.346, Take profit: 0.408

Elliott wave Ethereum analysis

The ETHUSD market is forming the down wave [C] as an impulse (1)-(2)-(3)-(4)-(5). Correction (2) must have completed, and the price should be falling in impulse (3) to a level of 850.00, as outlined in the chart. Next, the Ethereum price should rebound up in correction (4), as outlined in the chart. One could consider entering shorts.

Trading plan for ETHUSD today:

Sell 1691.03, 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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