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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 continues forming a potential impulse that 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 71,986.63, Take profit: 72,900.00
Elliott Wave analysis for Ripple
A bullish impulse continues developing in Ripple’s chart. Its subwaves [1] and [2] — a leading diagonal and a zigzag — look complete. 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 0.745, marked by linking wave [X], and then higher.
Trading plan for XRPUSD for today:
Buy 0.688, Take profit: 0.745
Elliott Wave analysis for Ethereum
The crypto pair continues moving in 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 4031.00, 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.
