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Dear readers,
I have prepared short-term forecasts for Bitcoin, Ripple and Ethereum based on Elliott Wave analysis.
The article covers the following topics:
Elliott Wave Analysis for Bitcoin
Bitcoin continues to form the final part of the bullish impulse wave [5]. The first sub-wave (1) may have formed as an impulse wave recently. Correction (2) is currently underway, in the form of a zigzag ABC. Impulse wave A is completed, and the price grows in correction B, which may equal 61.8% of sub-wave A. Thus, the price may rise to the level of 69202.98.
Trading plan for Bitcoin against the dollar For the day:
Buy 65739.75, Take Profit: 69202.98
Elliott wave analysis for Ripple
Ripple continues the upward trend in a double zigzag formation [W]-[X]-[Y]. action wave [W] In a zigzag shape. Correlation wave [X] It may have recently formed as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The first part of the action wave [Y] Currently developing. The price is expected to rise in the first sub-wave (A) to the highest level at 0.550, which is characterized by the sub-wave (XX).
Trading plan for Ripple Dollar For the day:
Buy 0.489, Take Profit: 0.550
Elliott Wave Analysis for Ethereum
Ethereum price continues to form a large bullish wave consisting of five parts. The first two sub-waves 1 and 2 have completed. Most likely, a bullish impulse wave 3 is currently unfolding. Zigzag correction [4] Consisting of sub-waves A)-(B)-(C) are assumed to have formed as part of it. The price is expected to grow in the sub-wave [5] To the previous high of 3972.35, which was marked by an impulsive sub-wave [3].
Trading plan for ETH/USD For the day:
Buy 3455.97, take profit: 3972.35
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BTCUSD price chart in real time mode
The content of this article reflects the opinion of the author 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 providing investment advice for the purposes of Directive 2004/39/EC.
