Short-term forecast for BTCUSD, XRPUSD and ETHUSD 25.02.2022

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.

In the short term, cryptocurrencies may continue to rise within bullish corrections, after which prices will fall.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market began to build a downtrend after the completion of the linking wave X. A bearish impulse (1)-(2)-(3)-(4)-(5) should be developing. The first three parts look complete. A bullish correction (4) is now forming. Growth within this correction is expected to the level of 40297.52, at which wave (4) will be 61.8% of the impulse sub-wave (3). In the current situation, it is profitable to consider entering purchases.

Trading plan for BTCUSD today:

Buy 38791.50, Take profit: 40297.52.

Elliott wave Ripple analysis

The XRPUSD market is forming a bearish impulse, which will consist of five sub-waves [1]-[2]-[3]-[4]-[5]. At the moment, an impulse subwave [3] is being formed. Possibly, the construction of the downward impulse (3) has come to an end as part of the wave [3]. 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. In the current situation, it is profitable to consider entering purchases. 

Trading plan for XRPUSD today:

Buy 0.694, Take profit: 0.740.

Elliott wave Ethereum analysis

After completing the linking wave XX, the ETHUSD market began to decline as part of the down wave [A]. The linking wave consists of five sub-waves (1)-(2)-(3)-(4)-(5). Recently, the price stopped declining in impulse (3). Then a correction began in the bullish wave (4). Wave (4) is expected to be completed at level 2755.00. This is the high, which was marked by the corrective sub-waves [4] and 4. In the current situation, it is profitable to consider entering purchases.

Trading plan for ETHUSD today:

Buy 2621.87, 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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