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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:
Bitcoin Elliott Wave Analysis
Complex corrective wave [4] It should continue to develop as a 3D pattern (W)-(X)-(Y)-(XX)-(Z). Its four parts are completely finished. An active wave (Z) may be developing at the moment and is likely to end as a double zigzag wave at the low of 56457.74.
Trading plan for Bitcoin against the dollar For the day:
Sell 61513.50, take profit: 56457.74
Elliott wave analysis for Ripple
Correlation wave [X] This pattern is supposed to develop in the Ripple chart in the medium term 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 were formed inside wave (Y). The price is expected to fall in a zigzag-shaped sub-wave Y to the lowest level at 0.450 as the sub-wave W has finished unfolding.
Trading plan for Ripple Dollar For the day:
Sell 0.468, Take Profit: 0.450
Elliott Wave Analysis for Ethereum
A 1-2-3-4-5 bullish rally should develop in the ETHUSD chart in the long term. Its first three parts seem complete. A complex correction 4 is currently unfolding in a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Her last wave of work [Z] It may now develop and end at 3214.45. At this level, the wave size is [Z] It will be 76.4% of the wave. [Y].
Trading plan for ETH/USD For the day:
Sell 3383.73, take profit: 3214.45
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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.
