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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 are going to grow over the next few days. It is relevant to buy.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is forming a long-term corrective wave [B] as a double zigzag (W)-(X)-(Y). The linking wave (X) must have completed as a triple zigzag W-X-Y-X-Z. Therefore, the Bitcoin price should be rising in the final motive wave (Y). The first upside target is at 34700.00, the high marked by the linking wave X.
Trading plan for BTCUSD today:
Buy 29695.01, TP 34700.00
Elliott wave Ripple analysis
The XRPUSD must have completed the linking down wave X as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. All motive sub-waves of this triple zigzag are standard zigzags. Therefore, the market should soon turn up and start rising in the motive wave Y. The first upside target is at 0.655, the high marked by the linking wave [X].
Trading plan for XRPUSD today:
Buy 0.528, TP 0.655
Elliott wave Ethereum analysis
The ETHUSD market must have completed the descending wave; the [B] correction has completed as a triple zigzag. Therefore, the market should be rising in the impulse wave [C]. The first target is at 2172.00, the high marked by the linking wave (X).
Trading plan for ETHUSD today:
Buy 1742.68, TP 2172.00
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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 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.