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 BTCUSD market could be declining for some time, but the bearish impulse should soon finish, and the price will start rising in a correction.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market has finished the upward wave (A) as a five-wave impulse. There is unfolding the beginning of the bearish wave. There could be unfolding an impulse sub-wave, with the first two sub-waves 1 and 2 completed inside. The bearish sub-wave  is currently developing as an impulse (1)-(2)-(3)-(4)-(5), which should complete at a level of 53550.00. Next, the price could start rising in correction  as outlined in the chart.
Trading plan for BTCUSD today:
Sell 56177.50, TP 53550.00
Elliott wave Ripple analysis
The XRPUSD market continues forming the large linking wave (X) as a triangle, with sub-waves A-B-C-D completed inside. The final leg of the D wave, sub-wave [C], has completed as an impulse (1)-(2)-(3)-(4)-(5). The Ripple price should be rising in the final sub-wave E, which could finish as a simple zigzag at a level of 1.325. One could enter purchases in the current situation.
Trading plan for XRPUSD today:
Buy 1.035, TP 1.325
Elliott wave Ethereum analysis
The ETHUSD market is forming the global impulse, with corrective wave 4 completed inside as a simple zigzag [A]-[B]-[C]. The most recent chart section displays the price rising in the fifth sub-wave unfolding as either an impulse or an ending diagonal. The Ethereum price should be rising in sub-wave 5 to a level above 4340.00. One could enter purchases in the current situation.
Trading plan for ETHUSD today:
Buy 4031.78, TP 4340.00
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 LiteForex 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
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.