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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. Sub-waves A-B-C have completed as standard zigzags. The D wave must have completed as a double zigzag. The price should be declining in the final wave E towards a level of 66000.00.
Trading plan for BTCUSD today:
Sell 71045.86, Take profit: 66000.00
Elliott wave Ripple analysis
The XRPUSD market continues forming the linking wave [X] as a zigzag (A)-(B)-(C). The leading diagonal (A) and correction (B) must have finished. The bearish wave (C) shoudl be developing as an ending diagonal. Sub-wave 4 is likely to have ended within wave (C). The Ripple price is declining in sub-wave 5 to a level of 0.557.
Trading plan for XRPUSD today:
Sell 0.611, Take profit: 0.557
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 double zigzag [W]-[X]-[Y]. The Ethereum price should be declining in the C impulse to a previous low marked by the A impulse.
Trading plan for ETHUSD for today:
Sell 3692.62, Take profit: 3060.33
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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.
