Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.02.2022

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.

It seems that cryptocurrency pairs have completed the decline within bearish impulses. Thus, the development of bullish corrective subwaves is expected.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is developing a new bearish wave as an impulse. Sub-waves (1)-(2)-(3) must be fully completed. If the assumption is correct, and the price decline within the impulse down wave (3) has ended, then a corrective movement within wave (4) is expected shortly. The price will likely rise to the previous high of 39270.00, where the corrective sub-waves [4] and 4 were completed.

Trading plan for BTCUSD today:

Buy 35047.00, Take profit: 39270.00.

Elliott wave Ripple analysis

The XRPUSD market is declining. A bearish impulse consisting of five sub-waves [1]-[2]-[3]-[4]-[5] is expected to form. At the time of writing, an impulse sub-wave [3] is developing. Perhaps, the downward impulse (3) within wave [3] has ended. This is a signal for a bullish correction (4). The price in the corrective sub-wave (4) will likely rise to the previous high of 0.740, which was marked by sub-wave 4.

Trading plan for XRPUSD today:

Buy 0.641, Take profit: 0.740.

Elliott wave Ethereum analysis

The ETHUSD market is building a new bearish wave [A], which is likely to take the shape of an impulse (1)-(2)-(3)-(4)-(5). The leading diagonal (1) and correction (2) were completed. Impulse sub-wave (3), consisting of five sub-waves 1-2-3-4-5, also looks formed. If this is true, then the price may start correcting within wave (4) shortly. The end of correction (4) is possible at the high of 2755.00, which was marked by corrective sub-waves [4] and 4.

Trading plan for ETHUSD today:

Buy 2368.99, Take profit: 2755.00.

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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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