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I welcome my readers!
I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
The article covers the following subjects:
Elliott wave Bitcoin analysis
Bitcoin forms the initial part of the bullish impulse. After the end of two sub-waves [1]-[2], the development of the third sub-wave began. Sub-wave (1) has been completed as a standard impulse within sub-wave [3]. Thus, expect the development of a bearish correction (2) shortly, which may end near the level of 57265.00.
Trading plan for BTCUSD today:
Sell 66645.68, Take profit: 57265.00
Elliott wave Ripple analysis
After the end of wave XX as a double zigzag, the price began to move upward, developing a bullish impulse. Sub-waves [1] and [2], leading diagonal and zigzag, look completed. Now, the price is actively growing in the first half of the bullish impulse [3]. Sub-waves (1)-(2) have been completed inside the wave [3]. Soon, expect the growth in sub-wave (3) toward the high of 0.695, marked by wave (X).
Trading plan for XRPUSD today:
Buy 0.636, Take profit: 0.695
Elliott wave Ethereum analysis
The current chart shows the initial part of the bullish impulse. The impulse sub-wave (1) and correction (2) have been completed. From the end of January, the first half of an impulse wave (3) has been forming. Impulse 1 could have been completed within this wave. According to Elliott’s theory, the impulse is followed by a correction. Therefore, soon expect the development of a bearish correction (2) to 3175.13.
Trading plan for ETHUSD for today:
Sell 3720.98, Take profit: 3175.13
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The content of this article reflects the author’s opinion 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 the provision of investment advice for the purposes of Directive 2004/39/EC.
