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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 XRPUSD could be forming the linking wave (X) as a contracting triangle.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues forming the global impulse wave (A) as an element of a large corrective trend. The final sub-wave 5 of the (A) impulse is currently developing. Wave 5 must be developing as an ending diagonal ----. The final wave  should conclude the diagonal at a level of 69800.00. After this level is reached, the price should start declining in the new corrective wave.
Trading plan for BTCUSD today:
Buy 65780.50, TP 69800.00
Elliott wave Ripple analysis
The XRPUSD market is forming the linking wave (X) as a horizontal contracting triangle A-B-C-D-E. There is unfolding corrective wave D as a simple zigzag [A]-[B]-[C]. The price should be rising in the motive wave (Y), which is to conclude correction [B]. Next, the market should start declining in the [C] impulse to a level of 1.050, as outlined in the chart. An approximate trajectory of the Ripple future price movement is outlined in the chart.
Trading plan for XRPUSD today:
Sell 1.209, TP 1.050
Elliott wave Ethereum analysis
The ETHUSD is forming the upward wave C as an element of a large zigzag. The C wave is a bullish impulse composed of sub-waves ----. The chart displays the final leg of the impulse wave . There is forming sub-wave (5), namely its last sub-wave 5. After the triangle correction finished, the price has started rising. The market should be growing to a level of 4950.00; next, the price will start declining. One could enter long trades in the current situation.
Trading plan for ETHUSD today:
Buy 4707.03, TP 4950.00
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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.