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I have prepared a short-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
All three cryptocurrency pairs covered in the article are moving according to the indicated scenarios.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market continues forming the corrective wave as a simple zigzag [A]-[B]-[C]. After the down impulse wave [A] completed, the market has turned up and started rising in the corrective wave [B] unfolding as a zigzag (A)-(B)-(C). Wave (A) completed as a leading diagonal, and the price was declining in correction (B), which has completed so far. The Bitcoin should be rising in the (C) impulse to a level of 58410.00.
Trading plan for BTCUSD today:
Buy 49733.00, TP 58410.00
Elliott wave Ripple analysis
The XRPUSD market is forming the bearish wave (Y) as a simple zigzag A-B-C. Impulse wave A, composed of five sub-waves ----, looks complete. There has started correction B unfolding as a double combination [W]-[X]-[Y], as outlined in the chart. The first motive wave must be developing as a double combination of a smaller degree, where sub-wave (Y) is a double zigzag W-X-Y. The entire wave B should end at a level of 1.163.
Trading plan for XRPUSD today:
Buy 0.851, TP 1.163
Elliott wave Ethereum analysis
The ETHUSD market continues forming the bearish double zigzag W-X-Y. The first motive wave W has completed as a simple zigzag. The linking wave X is forming as a zigzag [A]-[B]-[C]. Impulse [A] and correction [B] have completed, and sub-wave (5) should soon conclude the final wave [C]. Therefore, the market will be rising in sub-wave (5) to a level of 4540.00.
Trading plan for ETHUSD today:
Buy 4378.32, TP 4540.00
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Price chart of BTCUSD in real time mode
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.