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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] The development is supposed to continue as a triple zigzag pattern (W)-(X)-(Y)-(XX)-(Z). Its four parts have been fully completed. The active wave (Z) is currently developing and is likely to end as a triple zigzag wave WXY-XX-Z at the low of 56457.74, which is marked by wave (Y).
Trading plan for Bitcoin vs US Dollar For the day:
Sell 62,954.09, Take Profit: 56,457.74
Ripple Elliott Wave Analysis
Link wave [X] It is developing in the Ripple chart, and it looks like a double zigzag (W)-(X)-(Y). Sub-waves (W) and (X) have already formed; the last sub-wave (Y), which is more complex, is still unfolding. Sub-waves W and X have formed within wave (Y). The price is expected to fall in a sub-wave zigzag Y to a low of 0.450 where sub-wave W has finished unfolding.
Trading plan for XRPUSD For the day:
Sell 0.474, Take Profit: 0.450
Elliott Wave Analysis of Ethereum
A 1-2-3-4-5 bullish impulse is developing on the ETHUSD chart. Its first three parts appear to be complete. A complex 4 correction is currently forming in the form of a triple zigzag line. [W]-[X]-[Y]-[X]-[Z]Its last practical wave. [Z]The pair, which is currently developing, may end at 3,234.05 – the low marked by the active sub-wave (W).
Trading plan for Ethereum/US Dollar For the day:
Sell 3,449.61, Take Profit: 3,234.05
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BTCUSD price chart in current situation
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.
