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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
The BTCUSD market is forming a sideways correction (4) as a flat A-B-C. Wave A has finished as a zigzag and wave B has completed as a triple zigzag. The final wave C is developing as a bearish impulse, with the corrective sub-wave [4] developing inside. Next, the Bitcoin price will resume falling in sub-wave [5] towards the support level and the low of 61700.00.
Trading plan for BTCUSD today:
Sell 65253.40, Take profit: 61700.00
Elliott wave Ripple analysis
The XRPUSD is forming the bearish wave [Y] as a double zigzag, with the final wave (Y) developing inside. Wave (Y) might be forming as a zigzag A-B-C. Waves A and B have finished as a leading diagonal and a double three. Impulse wave C should be unfolding now, with correction [4] developing inside. When the indicted correction finishes, the Ripple price will resume declining in sub-wave [5] to a level of 0.413.
Trading plan for XRPUSD today:
Sell 0.498, Take profit: 0.413
Elliott wave Ethereum analysis
The ETHUSD market continues forming correction (4) as a zigzag A-B-C. Impulse A and a complex correction B have completed. Impulse C is currently forming, with sub-waves [1]-[2]-[3] completed inside. Correction [4] is about to end soon, and the Ethereum price will resume falling in sub-wave [5] to a level of 2858.42.
Trading plan for ETHUSD for today:
Sell 3147.87, Take profit: 2858.42
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Price chart of BTCUSD in real time mode
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.
