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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 horizontal correction (4) as a contracting triangle A-B-C-D-E, as outlined in the chart. As of now, the first wave A has completed. Correction B is about to finish. The price should resume declining in the C wave to a level of 62338.54. One could enter short positions.
Trading plan for BTCUSD today:
Sell 70425.07, Take profit: 62338.54
Elliott wave Ripple analysis
The XRPUSD market continues forming the linking wave [X] within the potential double zigzag. The [X] should be unfolding as a zigzag (A)-(B)-(C). Correction (B) has recently completed as a zigzag A-B-C. The price is now declining in the bearish wave (C) and could reach a level of 0.562, marked by sub-wave (A).
Trading plan for XRPUSD today:
Sell 0.612, Take profit: 0.562
Elliott wave Ethereum analysis
The ETHUSD market continues forming correction (4) as a zigzag A-B-C. The first sub-wave A has completed as an impulse [1]-[2]-[3]-[4]-[5]. Correction B should soon finish as a simple zigzag [A]-[B]-[C]. The Ethereum price should be declining in the C impulse to a low of 3054.42.
Trading plan for ETHUSD for today:
Sell 3557.42, Take profit: 3054.42
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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.
