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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 continues to form an impulse wave [A]. Inside it, horizontal correction (4) is currently unfolding. This correction can take the shape of an inclined triangle A-B-C-D-E. Wave D has been completed. The price will soon decline in the final wave E. In the current situation, consider opening minor sell trades to take profit at a low of 35085.00.
Trading plan for BTCUSD today:
Sell 36486.24, Take profit: 35085.00
Elliott wave Ripple analysis
Ripple is still building a linking wave [X], consisting of sub-waves (W)-(X)-(Y)-(XX)-(Z). The final wave (Z) is unfolding as a standard A-B-C zigzag. Impulse A and correction B have already been completed. The last sub-wave (5) is still forming inside impulse C. The price in sub-wave (5) may rise to the price level of 0.728, marked by sub-wave 3.
Trading plan for XRPUSD today:
Buy 0.687, Take profit: 0.728
Elliott wave Ethereum analysis
The ETHUSD market builds a linking wave (X), consisting of three sub-waves W-X-Y. The last sub-wave Y is currently developing as a standard zigzag [A]-[B]-[C]. A sideways correction (4) recently ended inside the last impulse wave [C]. Shortly, expect a rise in sub-wave (5) to the level of 1940.00.
Trading plan for ETHUSD for today:
Buy 1919.59, Take profit: 1940.00
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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.
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