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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 Ripple price should soon start rising in the final leg of the global triangle. Let us explore the market situation in more detail.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The large impulse wave (A) has already finished. The Bitcoin price is now declining in the new downward impulse of a smaller degree, namely in its initial part. Two small sub-waves 1 and 2 may have completed, and there is unfolding the beginning of the third wave. A small impulse  must have finished, so the BTCUSD market should be rising in correction  to a level of 64360.55.
Trading plan for BTCUSD today:
Buy 59612.00, TP 64360.55
Elliott wave Ripple analysis
The XRPUSD market continues developing the linking wave (X) as a horizontal contracting triangle A-B-C-D-E. Wave D is currently unfolding as a simple zigzag [A]-[B]-[C]. The price should go down to a level of 1.045, which is the support. Next, the market will be rising in the final wave E as outlined in the chart. One could enter sell trades in the current situation.
Trading plan for XRPUSD today:
Sell 1.081, TP 1.045
Elliott wave Ethereum analysis
The most recent section of the daily ETHUSD chart displays corrective wave 4 completed as a zigzag [A]-[B]-[C]. Impulse wave [A] and correction [B], composed of sub-waves (A)-(B)-(C), have completed. The bearish impulse wave [C] has also finished. The Ethereum price should be rising in sub-wave 5 to a level of 4673.00, marked by impulse sub-wave , and higher.
Trading plan for ETHUSD today:
Buy 4162.56, TP 4673.00
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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.