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 ----. Correction  has finished as a simple zigzag with the final wave (C) completed as an ending diagonal. Therefore, there should be developing bearish impulse . 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  is a leading diagonal, and bullish correction  is a double zigzag. The Ethereum price should be declining in impulse  below the low of 2575.00, marked by the linking wave (XX).
Trading plan for ETHUSD today:
Sell 2909.39, Take profit: 2575.00.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.