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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 XRPUSD must have started forming the final leg of the global contracting triangle.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market must be forming the descending simple zigzag (A)-(B)-(C). The first sub-wave (A) has completed, it is composed of sub-waves 1-2-3-4-5. Therefore, there is unfolding the initial part of the upward correction as a simple zigzag A-B-C. The first impulse wave A should end around the high of 60000.00, marked by sub-wave [W].
Trading plan for BTCUSD today:
Buy 57366.50, TP 60000.00
Elliott wave Ripple analysis
The XRPUSD market continues forming a triangle pattern, with the down wave D completed inside as a double zigzag [W]-[X]-[Y]. The market is now going up in the final wave E, likely unfolding as a simple zigzag [A]-[B]-[C], as outlined in the chart. The first impulse sub-wave [A] could finish around the previous high of 1.070. Therefore, the market should be rising in sub-waves (3)-(4)-(5) to the indicated level.
Trading plan for XRPUSD today:
Buy 0.972, TP 1.070
Elliott wave Ethereum analysis
The ETHUSD market is forming the descending corrective trend as a double zigzag (W)-(X)-(Y). The motive wave (W) and the linking wave (X) have completed as simple zigzags. There could be forming the initial part of the impulse wave. Impulse 1 has completed, and the zigzag-shaped correction 2 is about to finish soon; its impulse wave [C] could end at a level around 4473.70.
Trading plan for ETHUSD today:
Buy 4321.82, TP 4473.70
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Price chart of BTCUSD in real time mode
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