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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 article covers the following subjects:
Elliott wave Bitcoin analysis
BTC is forming an impulse wave [5]. Four parts within it (sub-waves (1)-(2)-(3)-(4)) have been completed. Shortly expect price growth in sub-wave (5), which can take the shape of an impulse or an ending diagonal. The price may rise to 28030.40, where impulse [5] will reach the 100% Fibonacci level of impulse [3]. In the current situation, consider opening long trades.
Trading plan for BTCUSD today:
Buy 24312.22, Take profit: 28030.40
Elliott wave Ripple analysis
The most recent XRPUSD chart section displays the formation of the ending diagonal [1]-[2]-[3]-[4]-[5]. Sub-waves [1]-[2]-[3]-[4] have been completed. At the moment, the last sub-wave [5] is unfolding as a zigzag (A)-(B)-(C), as shown in the chart. The zigzag is expected to end around the level of 0.330. At this level, a major correction [B] will be 76.4% of the impulse [A].
Trading plan for XRPUSD today:
Sell 0.360, Take profit: 0.330
Elliott wave Ethereum analysis
Impulse wave [5], consisting of five major sub-waves (1)-(2)-(3)-(4)-(5) is currently unfolding. Corrective wave (4) has been completed. Thus, the final sub-wave (5) started unfolding. Wave (5) can take the shape of an impulse or an ending diagonal. The price will rise to the level of 1817.00. At this level, wave [5] will be 76.4% of the previous impulse [3]. Consider purchases due to anticipated growth.
Trading plan for ETHUSD for today:
Buy 1642.98, Take profit: 1817.00
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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.
