Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.02.2022

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.

All three cryptocurrency pairs covered in the article must have finished upward corrections, so the prices will be falling in the new impulses over the next few days.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the initial part of the third leg in the global corrective trend, unfolding as a zigzag. Sub-waves W-X have completed, and there is unfolding the initial part of the final motive wave Y. There could be developing a bearish impulse (1)-(2)-(3)-(4)-(5). So far, the leading diagonal (1) and correction (2), a zigzag, have completed. The Bitcoin price should be declining in impulse (3) to a level below 36260.00, the low marked by the linking wave [X].

Trading plan for BTCUSD today:

Sell 40718.00, Take profit: 36260.00.

Elliott wave Ripple analysis

The XRPUSD market is forming the global triple zigzag W-X-Y-XX-Z. The linking wave XX have completed as a double zigzag [W]-[X]-[Y] more than a week ago. There is developing a down wave as an impulse [1]-[2]-[3]-[4]-[5]. Correction [2] has finished as a simple zigzag with the final wave (C) completed as an ending diagonal. Therefore, there should be developing bearish impulse [3]. The Ripple price could be falling to a level below 0.720, the low marked by the linking wave X.

Trading plan for XRPUSD today:

Sell 0.781, Take profit: 0.720.

Elliott wave Ethereum analysis

The ETHUSD market is forming a large triple zigzag, with the linking wave XX competed as a double zigzag [W]-[X]-[Y]. The price has started declining in the bearish wave unfolding as an impulse. The first two sub-waves of the impulse seem to have completed. Wave [1] is a leading diagonal, and bullish correction [2] is a double zigzag. The Ethereum price should be declining in impulse [3] below the low of 2575.00, marked by the linking wave (XX).

Trading plan for ETHUSD today:

Sell 2909.39, Take profit: 2575.00.

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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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