Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.02.2022
2022-02-24 2022-02-24 Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.02.2022
Roman Onegin
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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.
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.
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.
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.
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