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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
BTCUSD is forming the final part of a 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 66340.71, Take Profit: 69202.98
Elliott wave analysis for Ripple
Ripple’s upward trend continues in the form of a double zigzag line [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 soon to the highest level at 0.550 in the first sub-wave (A).
Trading plan for XRPUSD For the day:
Buy 0.486, Take Profit: 0.550
Elliott Wave Analysis for Ethereum
The ETHUSD pair is forming a bullish wave consisting of five parts. The first two sub-waves 1 and 2 have completed. The bullish impulsive wave 3 is most likely currently unfolding, with a zigzag correction. [4] It is assumed to be formed as part of it. The price is expected to grow in the sub-wave [5] It quickly reached the previous high at 3972.35 which was marked by an impulsive sub-wave [3].
Trading plan for ETH/USD For the day:
Buy 3579.11, 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.
