Short-term forecast for BTCUSD, XRPUSD and ETHUSD 29.12.2021

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.

Each of the cryptocurrencies may soon form a bullish standard zigzag.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is building a horizontal correction [B], in the shape of a double zigzag (W) – (X) – (Y). The last sub-wave (Y) is currently unfolding. Wave (Y) is developing as a triple zigzag W-X-Y-XX-Z, the completion of which requires the last fifth part, that is, an actionary sub-wave Z. Most likely, wave Z will take the shape of a simple zigzag [A] – [B] – [C], as shown on the chart. Its completion is expected around the level of 55000.00. At the indicated price level, wave [B] will be 61.8% of the impulse [A].

Trading plan for BTCUSD today:

Buy 47824.50, TP 55000.00

Elliott wave Ripple analysis

The XRPUSD market is forming a corrective wave B as a double zigzag, which is marked by sub-waves [W] – [X] – [Y]. The upward actionary wave [Y] is currently unfolding as a double zigzag (W) – (X) – (Y). Most likely, the development of the downward linking wave (X) as a simple zigzag A-B-C has come to an end. In the near future, the price may rise to the level of 1.055 within the final wave (Y), which, like the linking wave (X), may take the shape of a zigzag A-B-C. Wave B will be 61.8% of wave A at the indicated above level.

Trading plan for XRPUSD today:

Buy 0.853, TP 1.055

Elliott wave Ethereum analysis

The ETHUSD chart shows the internal structure of linking wave X, which consists of three main sub-waves [W] – [X] – [Y]. At present, two parts have been fully completed, the zigzag [W] and the triple zigzag [X]. Now the last subwave [Y] is unfolding as a double zigzag (W) – (X) – (Y). It seems that the decline of the market within wave (X) has ended, so shortly, expect the price to rise within the current wave (Y) to the level of 4490.00.. Perhaps wave (Y) will unfold as a simple zigzag, as shown in the chart.

Trading plan for ETHUSD today:

Buy 3803.16, TP 4490.00

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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.

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