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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 article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is forming a horizontal correction (4) as a contracting triangle A-B-C-D-E, as outlined in the chart. As of now, the first wave A has completed. Correction B is about to finish as a standard zigzag [A]-[B]-[C] at a level of 71716.00, the upper construction line. When the indicated level is reached, the Bitcoin price will resume declining in the C wave.
Trading plan for BTCUSD today:
Buy 70494.33, Take profit: 71716.00
Elliott wave Ripple analysis
The XRPUSD market continues forming the linking wave [X] within the potential double zigzag. The [X] should be unfolding as a zigzag (A)-(B)-(C). Correction (B) must be forming now; it is composed of the sub-waves A-B-C. A triangle correction B must have finished, and the Ripple price should be rising in the C impulse to a level of 0.659.
Trading plan for XRPUSD today:
Buy 0.624, Take profit: 0.659
Elliott wave Ethereum analysis
The ETHUSD market continues forming correction (4) as a zigzag A-B-C. The first sub-wave A has completed as an impulse [1]-[2]-[3]-[4]-[5]. Correction B should soon finish as a simple zigzag [A]-[B]-[C]. Wave B could retrace impulse A by 76.4% and finish at a level of 3860.00.
Trading plan for ETHUSD for today:
Buy 3598.37, Take profit: 3860.00
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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.
