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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 is developing the initial part of its 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 five-wave impulse inside sub-wave [3]. Thus, soon expect the completion of wave (1), and then the development of a bearish correction (2), which may end around the level of 60293.00.
Trading plan for BTCUSD today:
Sell 66927.59, Take profit: 60293.00
Elliott wave Ripple analysis
The XRPUSD market is rising, building a bullish impulse. The sub-waves [1] and [2], the initial diagonal and the zigzag, look complete. At the moment, the price is actively growing in the first half of the bullish impulse [3]. Subwaves (1)-(2) have been completed inside the wave [3]. Shortly, expect a growth in sub-wave (3) toward the high of 0.695, marked by wave (X).
Trading plan for XRPUSD today:
Buy 0.616, Take profit: 0.695
Elliott wave Ethereum analysis
Ethereum is building the initial part of the bullish impulse. The impulse sub-wave (1) and correction (2) have been completed. The first half of an impulse wave (3) has been forming since the end of January. Within the indicated wave, impulse sub-wave 1 has come to an end. Therefore, soon expect the development of a bearish correction 2, approximately to the level of 3358.00.
Trading plan for ETHUSD for today:
Sell 3891.22, Take profit: 3358.00
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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.
