I welcome my readers!
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.
Bitcoin and Ethereum may have finished rising, and the prices should soon start declining. The Ripple price could rise a little more.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD price has risen a little higher than expected. The market must have finished forming a zigzag-shaped wave , composed of the sub-waves (A)-(B)-(C). In the near future, the price should be declining in the fourth wave of an ending diagonal. Wave  could end at a level of 57060.00, which is at the support line. Next, the price should resume growing in the final wave . In the current situation, one could enter sell trades.
Trading plan for BTCUSD today:
Sell 64391.50, TP 57060.00
Elliott wave Ripple analysis
The most recent section of the XRPUSD price chart displays the price growth in the upward impulse, composed of five sub-waves (1)-(2)-(3)-(4)-(5). There have completed the first two sub-waves so far. There is now forming the upward impulse wave (3), namely, its final fifth wave. The Ripple price could continue rising to a level of 2.101. Next, the market should turn down and start declining in the corrective wave (4). One could enter long positions with a target at the above-mentioned level.
Trading plan for XRPUSD today:
Buy 1.922, TP 2.1010
Elliott wave Ethereum analysis
The ETHUSD, like the BTCUSD, must have started forming a new down wave. The market is likely to have finished the bullish impulse C, so the price should be following a new bearish trend over the next few days. The Ethereum price should be falling to a level of 1540.00, marked by corrective sub-wave (4). It is not clear what pattern is currently unfolding, so, we shall continue monitoring the price chart.
Trading plan for ETHUSD today:
Sell 2373.53, TP 1540.00
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 LiteForex 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
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 LiteForex. 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.