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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 XRPUSD has reached the indicated target, and there are new target levels for bears.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD chart displays the motive wave [Y] unfolding as a double zigzag (W)-(X)-(Y). Wave (W) is a simple zigzag, wave (X) is a double zigzag, and the final motive wave (Y) is still developing as a triple zigzag, which should be concluded by the Z wave at a level of 48650.00. At this level, waves (Y) and (W) will be equal.
Trading plan for BTCUSD today:
Buy 44715.00, Take profit: 48650.00
Elliott wave Ripple analysis
The XRPUSD market is forming a corrective trend. The H1 chart displays the linking upwave XX that is complete. The most recent chart section displays the beginning of the new bearish trend developing as a double zigzag (W)-(X)-(Y). There is unfolding the bearish motive wave (W) as a double zigzag W-X-Y, which should finish at a level of 0.738, marked by the linking wave (X).
Trading plan for XRPUSD today:
Sell 0.819, Take profit: 0.738.
Elliott wave Ethereum analysis
The ETHUSD chart displays the structure of the upwave [Y] unfolding as a double zigzag (W)-(X)-(Y). The first two sub-waves of the zigzag have completed as a simple and a double zigzags. The bullish motive wave (Y) is currently unfolding as a double zigzag W-X-Y, like the linking wave (X). The Y wave is currently unfolding as a triple zigzag, which should finish at a level of 3675.00. At the indicated level, wave (Y) will be 161.8% of the (W) wave.
Trading plan for ETHUSD today:
Buy 3253.63, Take profit: 3675.00.
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