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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.
The BTCUSD and the ETHUSD should continue rising in the impulse wave over the next few days. The XRPUSD should shortly finish the triangle corrective wave, which will be followed by the price decline in the impulse.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD pair completed the corrective down wave 4 as a simple zigzag [A]-[B]-[C]. Next, the price started rising in the impulse. There have completed sub-waves and , and the impulse wave  has completed 3 sub-waves of a smaller degree out of 5. There should complete the bearish corrective wave (4), followed by the price rise in the final impulse (5) to a level of 64500.00, as outlined in the chart.
Trading plan for BTCUSD today:
Buy 60418.50, TP 64500.00
Elliott wave Ripple analysis
On the hourly XRPUSD price chart, there is forming the corrective wave (D), which is an element of a larger triangle. Wave (D) is unfolding as a bearish double zigzag W-X-Y. The final motive sub-wave Y of this zigzag is currently forming. The Y wave should end as a standard zigzag [A]-[B]-[C]. The price should soon start rising in the (E) wave, which is an element of the triangle correction [B], to a level of 0.482, which is the resistance level.
Trading plan for XRPUSD today:
Buy 0.445, TP 0.482
Elliott wave Ethereum analysis
The ETHUSD market is forming a large impulse wave C, with the bearish correction (4) recently completed inside as a simple zigzag A-B-C. There is now forming the impulse wave (5), namely, its final leg. Within wave 5, there have completed the first two sub-waves  and . Therefore, the market should be rising in sub-waves --, as it is outlined in the chart. The entire wave 5 could end at a level of around 2130.00.
Trading plan for ETHUSD today:
Buy 1881.95, TP 2130.00
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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 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.