Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.08.2022

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.

The Ethereum and Bitcoin markets may continue to grow in bullish impulse subwaves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the long term BTCUSD will develop the linking wave X as a double zigzag [W]-[X]-[Y]. Now the first actionary wave [W] is under construction. It has a complex internal structure of a triple zigzag (W)-(X)-(Y)-(X)-(Z). To complete this pattern, the last actionary sub-wave (Z) is needed. The sub-wave (Z) will likely end near the level of 26375.45 as a double zigzag W-X-Y. At the indicated level, the subwaves (Z) and (Y) will be equal.

Trading plan for BTCUSD today:

Buy 23437.00, Take profit: 26375.45

Elliott wave Ripple analysis

The corrective XRPUSD trend has begun, which may take the shape of a double zigzag W-X-Y. Now the market is building the first actionary wave W. Its internal structure reminds a triple zigzag. Waves [Y] and [X] have been completed. At the moment, a double zigzag (W)-(X)-(Y) is developing. It may contribute to the completion of the wave [Z] near the level of 0.464, where waves [Z] and [Y] will be equal. The nearest target for opening long trades is the previous high of 0.408. At this level, the first actionary sub-wave (W) may be completed as a double zigzag W-X-Y.

Trading plan for XRPUSD today:

Buy 0.376, Take profit: 0.408

Elliott wave Ethereum analysis

The chart shows the upward corrective ETHUSD movement within the large wave [B]. Most likely, this wave will take the shape of a double zigzag (W)-(X)-(Y). The layout of the final actionary wave (Y) reminds a simple A-B-C zigzag pattern. Impulse wave A and bearish correction B in this impulse have been completed. Now the last impulse sub-wave C is under construction. For its completion, sub-waves [3]-[4]-[5] are needed. These sub-waves may unfold up to the level of 2209.00.

Trading plan for ETHUSD today:

Buy 1847.71, Take profit: 2209.00

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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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