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Dear reader,
I have prepared short term forecasts for Bitcoin, Ripple and Ethereum based on Elliott Wave analysis.
The article covers the following topics:
Key points and highlights
- Bitcoin/US Dollar: subwave [5] Development has begun. Consider short positions from the current level with take profit at 48876.38.
- Ripple vs Dollar: The price is growing in a downward direction (c). Consider buying from the current level with a take profit at 0.704.
- Ethereum/USD: The price is expected to decline in a downward direction (5). Consider selling with a take profit at 2092.35.
Bitcoin Elliott Wave Analysis
the Bitcoin vs US Dollar The pair forms a complex correction. [4] As a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The last effective wave (Z) may develop as a simple zigzag ABC. The first impulse wave A is currently unfolding, through which a corrective wave [4] It may have formed. So, the price is likely to fall in the sub-wave. [5] To the lowest level 48876.38.
BTCUSD Trading Plan for Today:
Sell 60955.39, Take Profit: 48876.38
Ripple Elliott Wave Analysis
the Ripple Dollar The cryptocurrency pair may form a consolidation wave. [X]most likely as a simple zigzag wave (A)-(B)-(C). The sub-impulsive wave (A) is likely to have completed. The correction (B) may have developed as a zigzag wave ABC. The price may rise in the final impulsive wave (C) soon. Sub-waves 3-4-5 are expected to reach 0.704.
XRPUSD Trading Plan for Today:
Buy 0.598, Take Profit: 0.704
Elliott Wave Analysis of Ethereum
Ethereum It is supposed to form a complex correction (B) in the form of a double zigzag wave WXY. A zigzag wave in the form of a Y wave, consisting of sub-waves [A]-[B]-[C]Events may be unfolding at this time. [A] And correction [B] It is formed, and the final sub-wave [C] Currently under development. Patch (4) may have been developed as part of the push. [C]and the price is now falling in sub-wave (5) to 2092.35.
ETHUSD Trading Plan for Today:
Sell 2669.44, Take Profit: 2092.35
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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.
