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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: An upward impulse wave may develop up to 69,940.00. Consider long positions from the current level with a take profit at 69,940.00.
- Ripple vs Dollar: The price continues to rise in the impulse wave (C) to a high of 0.703. Consider buying from the current level with a take profit at 0.703.
- Ethereum/USD: The asset is expected to grow in an upward momentum. Consider buying with a take profit at 3,396.00.
Bitcoin Elliott Wave Analysis
the Bitcoin vs US Dollar It is supposed to have finished forming a major correction. [4] As a regular zigzag line (A)-(B)-(C). The first part of a new bullish impulse is developing in the latter part of the chart. Its first sub-wave (1) has been completed. Correction (2), consisting of sub-waves ABC, may have also been formed, and a new sub-wave of the impulse is likely to develop at the moment. Its two minor sub-waves 1 and 2 have been completed. The price may soon grow to a high of 69,940.00.
BTCUSD Trading Plan for Today:
Buy: 63,911.24, Take Profit: 69,940.00
Ripple Elliott Wave Analysis
the XRPUSD The cryptocurrency pair may form a consolidation wave. [X]most likely as a simple zigzag wave (A)-(B)-(C). The impulse sub-wave (A) is likely to have completed. The correction (B) may have developed as a zigzag wave ABC. The price rises in the final impulse wave (C) which has sub-waves 1-2-3 and correction 4. The price is expected to grow in sub-wave 5 to a peak of 0.703.
XRPUSD Trading Plan for Today:
Buy 0.590, Take Profit: 0.703
Elliott Wave Analysis of Ethereum
the Ethereum/US Dollar The cryptocurrency pair is likely to form an ascending zigzag (A)-(B)-(C), in which a corrective wave (B) may develop as a double zigzag WXY. The first part of a new impulsive wave is unfolding in the latter part of the chart. Its sub-waves 1 and 2 – a leading diagonal and a simple zigzag – appear fully formed. Therefore, the third impulsive wave may be developing at the moment, as the price may rise above 3396.00 – the peak marked by the correction (4).
ETHUSD Trading Plan for Today:
Buy 2,741.47, Take Profit: 3,396.00
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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.
