Short-term forecast for BTCUSD, XRPUSD and ETHUSD 31.08.2022

I welcome my readers!

I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.

The BTCUSD and the XRPUSD continue forming bullish corrective waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the linking wave [X] as a standard zigzag (A)-(B)-(C). The first impulse wave (A) looks complete, and the bullish correction (B) should be currently unfolding as a double zigzag W-X-Y. The first motive wave W should finish soon, and the market will be forming sub-waves X and Y. The entire wave (B) could complete at a level of 23022.00, where it will be 61.8% of impulse (A).

Trading plan for BTCUSD today:

Buy 20355.50, Take profit: 23022.00


Elliott wave Ripple analysis

The XRPUSD is forming the initial part of the potential double zigzag, sub-wave W. Sub-wave W is developing as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. There is developing the beginning of the final part of the motive sub-wave [Z]. The motive sub-wave [Z] should be unfolding as a simple zigzag (A)-(B)-(C) up to a level of 0.408.

Trading plan for XRPUSD today:

 Buy 0.331, Take profit: 0.408


Elliott wave Ethereum analysis

The ETHUSD market is forming the bearish wave [C] as a five-wave impulse (1)-(2)-(3)-(4)-(5). The first impulse wave (1), composed of sub-waves 1-2-3-4-5, has completed so far. A short upward correction (2) should be developing as a zigzag A-B-C up to a level of 1720.00, the previous high, marked by sub-wave 4. Next, the market will resume falling in impulse (3).

Trading plan for ETHUSD today:

Buy 1606.32, Take profit:1720.00


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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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