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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
A powerful impulse wave (3) is presumably completed as part of impulse [3] currently forming. So, the market may reverse and start declining in correction (4) in the near time. Correction (4) will likely be 23.6% of impulse (3) as per Fibonacci levels. Thus, the price may fall to 66,137.00 as shown in the chart. Consider short positions in the current situation.
Trading plan for BTCUSD for today:
Sell 72,762.50, Take profit: 66,137.00
Elliott Wave analysis for Ripple
A bullish impulse continues developing in the Ripple chart. Its subwaves [1] and [2] — a leading diagonal and a zigzag — have formed. The price is currently growing 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 of wave (3) soon, to the high of 0.745, marked by linking wave [X], and then higher.
Trading plan for XRPUSD for today:
Buy 0.671, Take profit: 0.745
Elliott Wave analysis for Ethereum
Ethereum’s price is evolving in a bullish impulse (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 4,183.00 in the near time, where the size of wave 5 will be 61.8% of wave 3.
Trading plan for ETHUSD for today:
Buy 3,953.54, Take profit: 4,183.00
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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.
