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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 projected to continue growing in the impulse made of subwaves [1]-[2]-[3]-[4]-[5]. The subwaves [1]-[2]-[3]-[4] are complete. The initial part of the final impulse wave [5] is currently unfolding, with the first small subwaves (1)-(2) already formed. In the coming days, the price is expected to rise in impulse (3) above the peak of 73,862.23 marked by impulse [3]
Trading plan for BTCUSD for today:
Buy 67,029.84, Take profit: 73,862.23
Elliott Wave analysis for Ripple
The initial part of a new double zigzag has started forming in the last segment of the XRPUSD crypto pair’s chart. The actionary wave [W], made of subwaves (A)-(B)-(C), is presumably completed. Then, the pair started moving in the linking wave [X]. Apparently, [X]’s structure is horizontal and looks like a contracting triangle. It may end near the level of 0.488, located on the triangle’s lower line.
Trading plan for XRPUSD for today:
Sell 0.505, Take profit: 0.488
Elliott Wave analysis for Ethereum
A corrective wave (B) is likely forming as a triple zigzag W-X-Y-XX-Z. The first four parts of this pattern are fully completed. The final wave Z is currently unfolding, and its initial part suggests a zigzag. We can see a completed impulse wave [A]. The price is likely growing in impulse (C), the final part of a zigzag-shaped correction [B]. The price is very likely to climb to 3,262.00, where impulses (A) and (C) will be equal.
Trading plan for ETHUSD for today:
Buy 3,100.86, Take profit: 3,262.00
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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.
