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I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
The BTCUSD and the ETHUSD continue rising in potential bullish impulses. The XRPUSD is about to start forming a new bear wave.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD is forming the final part of a large double zigzag [W]-[X]-[Y]. The [Y] is currently unfolding as a simple zigzag (A)-(B)-(C), with the first two legs completed inside. The final sub-wave (C) is developing as an impulse 1-2-3-4-5, as outlined in the chart. The Bitcoin price should be rising in sub-wave 3 to a level of 22777.00.
Trading plan for BTCUSD today:
Buy 19317.80, Take profit: 22777.00
Elliott wave Ripple analysis
The XRPUSD is forming a long-term corrective trend as a double zigzag W-X-Y. The first sub-wave W has completed as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The Ripple price should be falling in the bearish linking wave X to a level of 0.382, marked by correction .
Trading plan for XRPUSD today:
Sell 0.479, Take profit: 0.382
Elliott wave Ethereum analysis
The ETHUSD market is forming a large double zigzag, with the linking wave [X] completed inside as a simple zigzag (A)-(B)-(C). The first impulse wave (A) is currently forming as the first wave of the motive [Y]. The upside impulse should end at a level of 1800.00. An approximate trajectory of the Ethereum future price movement is outlined in the chart.
Trading plan for ETHUSD today:
Buy 1321.58, Take profit: 1800.00
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