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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. The first two legs of the triangle, A and B, must have completed, and the Bitcoin price should be moving down in the C wave, unfolding as a zigzag [A]-[B]-[C], to a level of 62338.54, the lower construction line.
Trading plan for BTCUSD today:
Sell 66855.79, Take profit: 62338.54
Elliott wave Ripple analysis
The XRPUSD market continues forming the linking wave [X] as a zigzag (A)-(B)-(C). Impulse (A) and correction (B) must have completed, and the (C) impulse should be currently unfolding. Sub-wave 3 has finished within the (C) impulse, and the price is rising in correction 4. When correction 4 finishes, the Ripple price will resume falling in sub-wave 5 to a level of 0.537.
Trading plan for XRPUSD today:
Sell 0.574, Take profit: 0.537
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 could have finished as a simple zigzag [A]-[B]-[C]. The Ethereum price must be falling in the C impulse to a level of 3054.42, marked by impulse A.
Trading plan for ETHUSD for today:
Sell 3272.32, Take profit: 3054.42
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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.
