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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
The second part of the bullish impulse wave – corrective wave (2) – is supposed to unfold in the last part of the BTCUSD chart. This patch has a complex internal structure similar to the triple zigzag line WXY-XX-Z. Sub-waves XX and Z are expected to form soon, while the full correction may end at 62416.06, where the size of wave (2) will be 61.8% of wave (1).
Trading plan for Bitcoin against the dollar For the day:
Sell 64583.98, Take Profit: 62416.06
Elliott wave analysis for Ripple
Correlation wave [X] It is supposed to develop in the Ripple chart and looks like a double zigzag (W)-(X)-(Y). Sub-waves (W) and (X) have already formed; The final sub-wave (Y), which is more complex, is still unfolding. Sub-waves W and X formed within wave (Y). The price in sub-wave Y is expected to fall to the lowest level at 0.450 as sub-wave W has finished unfolding.
Trading plan for Ripple Dollar For the day:
Sell 0.467, Take Profit: 0.450
Elliott Wave Analysis for Ethereum
A bullish impulse wave 1-2-3-4-5 should appear in the ETHUSD chart. The first three parts seem complete. A complex correction number 4 is currently unfolding in the form of a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Last active wave [Z] It may now develop and end at the bottom 3345.26, which is marked by a sub-wave [Y].
Trading plan for ETH/USD For the day:
Sell 3495.10, take profit: 3345.26
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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.
