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 the ETHUSD could be rising in bullish impulse sub-waves.
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). Next, the market has turned up and started forming the upward motive wave [Y] as a standard zigzag (A)-(B)-(C). The first sub-wave (A) is currently developing as an impulse 1-2-3-4-5; it could end at a level of around 22625.00, as outlined in the chart.
Trading plan for BTCUSD today:
Buy 21694.00, Take profit: 22625.00
Elliott wave Ripple analysis
The XRPUSD market has completed the large linking wave [X] as a part of the motive wave W of a larger degree. The final motive wave [Z] is developing as a standard zigzag (A)-(B)-(C), as outlined in the chart. This zigzag-shaped pattern could end at a level of around 0.408. In this scenario, one could enter long trades.
Trading plan for XRPUSD today:
Buy 0.349, Take profit: 0.408
Elliott wave Ethereum analysis
The ETHUSD market is forming a large upward wave [A] as an impulse (1)-(2)-(3)-(4)-(5). The first four legs of the impulse must have completed. In late August, a zigzag-shaped correction (4) must have finished, and the market has been forming the final impulse wave (5). The Ethereum price should be rising in sub-waves 3-4-5 of impulse (5) to a level of 2200.00, where wave (5) will be 76.4% of the previous impulse (3).
Trading plan for ETHUSD today:
Buy 1727.78, Take profit: 2200.00
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.