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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
Complex corrective wave [4] It is developing on the H4 timeframe, and is supposed to be a triple (W)-(X)-(Y)-(XX)-(Z) pattern. Its four parts are fully completed. The active wave (Z) might 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 60804.97, Take Profit: 56457.74
Ripple Elliott Wave Analysis
Correlation wave [X] It develops in the Ripple chart and appears as 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 is expected to fall in the form of a zigzag sub-wave Y to the lowest level at 0.450, where sub-wave W has finished unfolding.
Trading plan for XRPUSD For the day:
Sell 0.461, Take Profit: 0.450
Elliott Wave Analysis for Ethereum
A bullish impulse wave 1-2-3-4-5 is forming 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]. Her last wave of work [Z], which is currently developing, may end at 3214.45. At this level, the wave size [Z] It will be 76.4% of the wave [Y].
Trading plan for ETH/USD For the day:
Sell 3366.07, 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.
