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Dear readers,
I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.
The article covers the following subjects:
Elliott Wave analysis for Bitcoin
Bitcoin is most likely forming a bullish impulse wave, which will consist of subwaves [1]-[2]-[3]-[4]-[5]. The first two parts have formed so far. The price is expected to rise shortly in impulse wave [3], which is made of subwaves (1)-(2)-(3)-(4)-(5). The last part of subwave (3) is currently developing. The price is expected to grow in subwave 5 of (3) to 72,900.00, where the size of wave [5] will be 76.4% of wave [3].
Trading plan for BTCUSD for today:
Buy: 68,463.90, Take profit: 72,900.00
Elliott Wave analysis for Ripple
The XRPUSD crypto pair is moving upwards in a bullish impulse wave. Its subwaves [1] and [2] — a leading diagonal and a zigzag — look fully formed. The price is currently growing actively in the first part of bullish impulse [3]. The subwaves (1)-(2) of wave [3] are formed. The price is expected to grow in subwave (3) soon to the high of 0.663 marked by wave (1).
Trading plan for XRPUSD for today:
Buy: 0.605, Take profit: 0.663
Elliott Wave analysis for Ethereum
We see the ETHUSD crypto pair forming a bullish impulse wave that consists of subwaves (1)-(2)-(3)-(4)-(5). Impulse (1) and correction (2) are formed. The first impulse subwave (3), consisting of sub-waves 1-2-3-4-5, is currently developing. Subwaves 1-2-3-4 are most likely completed. The price is expected to rise in subwave 5 to 4183.00 in the near time. At that level, the size of wave 5 will be 61.8% of wave 3.
Trading plan for ETHUSD for today:
Buy: 3855.79, Take profit: 4183.00
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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.
