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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:
Contents
Elliott wave Bitcoin analysis
The BTCUSD market continues to form corrective wave B, namely its final actionary wave [Y]. Wave [Y] will take the shape of double zigzag (W)-(X)-(Y). Sub-wave (Y) also serves as double zigzag W-X-Y. Soon the price is expected to rise in the final sub-wave Y to the high of 18120.00, marked by the actionary wave [W]. After that, a new bearish trend may appear.
Trading plan for BTCUSD today:
Buy 17767.11, Take profit: 18120.00
Elliott wave Ripple analysis
The XRPUSD market continues to build a major correction B, consisting of five sub-waves. The first four sub-waves [W]-[X]-[Y]-[X] have already been completed. Now the initial part of the last sub-wave [Z] is unfolding. Wave [Z] may end near the level of 0.416, marked by the second actionary sub-wave [Y]. In the current situation, consider opening long trades.
Trading plan for XRPUSD today:
Buy 0.388, Take profit: 0.416
Elliott wave Ethereum analysis
The H1 ETHUSD chart shows a major corrective wave B. Inside it, the last sub-wave [Y] is unfolding. Judging by the internal structure, wave [Y] will take the shape of a double zigzag (W)-(X)-(Y). Zigzag (W) and double zigzag (X) have been completed. Now the last actionary wave (Y) is unfolding. It is expected to end near the level of 1345.00 level. This is the high, marked by the actionary wave [W].
Trading plan for ETHUSD for today:
Buy 1316.86, Take profit: 1345.00
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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.
