Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.12.2021

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 Ripple are currently forming corrective waves that could retrace the previous impulses by 50%.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD continues forming the upward correction [B] as a double zigzag (W)-(X)-(Y). The first two sub-waves of this pattern have been completed, and there is unfolding the final motive wave (Y) as a triple zigzag, as outlined in the chart. The entire pattern should complete at a level of 55050.00, where the [B] wave will retrace the [A] impulse by 50%.

Trading plan for BTCUSD today:

Buy 47854.50, TP 55050.00

Elliott wave Ripple analysis

The XRPUSD market is forming the (Y) wave as an element of a larger corrective pattern. Wave (Y) is unfolding as a simple zigzag A-B-C. Impulse A has completed, and the B correction is currently unfolding as a double zigzag [W]-[X]-[Y]. The first two legs, sub-waves [W] and [X], must have completed. The final motive wave [Y] should also be developing as a double combination (W)-(X)-(Y), with the upward wave (Y) unfolding inside. Wave (Y) could end at a level of 0.966, where correction B will be 50% of the A impulse.

Trading plan for XRPUSD today:

Buy 0.812, TP 0.966

Elliott wave Ethereum analysis

The ETHUSD market is forming the initial part of the larger double zigzag W-X-Y. The first motive wave W has completed as a simple zigzag [A]-[B]-[C]. Next, the market has started rising in the corrective linking wave X unfolding as a double zigzag [W]-[X]-[Y], which should be concluded by the [Y] wave unfolding as a standard zigzag (A)-(B)-(C), as outlined in the chart. The Ripple price should be rising in the [Y] wave to the previous high of 4500.00.

Trading plan for ETHUSD today:

Buy 3957.38, TP 4500.00

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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 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.

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