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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.
The ETHUSD market is forming a simple zigzag, whose final sub-wave is an ending diagonal.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The most recent BTCUSD chart section displays the new bearish zigzag currently unfolding. The first bearish impulse wave (A) has finished in the zigzag. The final, fifth, leg of the (A) impulse is an ending diagonal. There is developing corrective wave (B) that could complete at a level around 62255.00. At this level, the upward wave (B) will retrace the (A) wave by 50%. This ratio is likely to be reached.
Trading plan for BTCUSD today:
Buy 57218.50, TP 62255.00
Elliott wave Ripple analysis
The XRPUSD market continues forming the large linking wave (X) as a contracting triangle A-B-C-D-E. The D has recently completed as a double zigzag [W]-[X]-[Y]. There is forming the initial part of the final wave E. Therefore, the market should be rising in the E wave in the next few days to a level above the previous high of 1.100, marked by correction (B). One could enter buy trades in the current situation.
Trading plan for XRPUSD today:
Buy 1.031, TP 1.100
Elliott wave Ethereum analysis
The ETHUSD market has recently finished the down motive wave (W) as a simple zigzag A-B-C. There is unfolding the linking wave (X) also as a simple zigzag A-B-C. The first two legs of the zigzag have completed, and the price is rising, forming the C wave as an ending diagonal ----. The market should continue going up in wave  to a level of 4524.00, where wave (X) will be 61.8% of wave (W).
Trading plan for ETHUSD today:
Buy 4277.99, TP 4524.00
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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 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.