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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 first sub-wave (1) recently formed within a large impulse wave in the latter part of the Bitcoin price chart. Sub-wave (1) is an impulse wave 1-2-3-4-5. Correction (2) is currently underway, in the form of a zigzag ABC. The impulsive sub-wave A has completed, and the price is growing in correction B, which may be equal to 61.8% of wave A. Thus, the price may rise to the level of 68896.00.
Trading plan for Bitcoin against the dollar For the day:
Buy 65490.70, Take Profit: 68896.00
Elliott wave analysis for Ripple
The price continues to grow within a bullish pattern – 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 in the first sub-wave (A) to the highest level at 0.550 which is marked by the sub-wave (XX).
Trading plan for XRPUSD For the day:
Buy 0.489, Take Profit: 0.550
Elliott Wave Analysis for Ethereum
Ethereum continues to form a large bullish wave within a bullish zigzag line (A)-(B)-(C). This wave consists of five parts. The first four parts – impulses 1 and 3 and corrective waves 2 and 4 – have likely been completed. The price in sub-wave 5 should soon rise to the previous high at 3972.35, which was marked by sub-wave 3. In this scenario, buy trades can be considered.
Trading plan for ETH/USD For the day:
Buy 3575.91, 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.
