Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.06.2022

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 BTCUSD and XRPUSD are forming the middle legs of the upward impulse waves. The ETHUSD is forming the first leg of the potential impulse.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the initial part of the upward wave unfolding as an impulse 1-2-3-4-5. Sub-waves 1 (leading diagonal) and 2 (double zigzag) have completed. The initial part of impulse 3 is currently developing. Sub-waves [1]-[2] and (1)-(2) of a smaller degree have finished. The Bitcoin price should be rising in sub-wave (3), namely in waves 3-4-5 of a smaller degree, as outlined in the chart. Sub-wave (3) should end at a level of 36000.00 marked by corrective wave 4.

Trading plan for BTCUSD today:

Buy 31527.00, Take profit: 36000.00

Elliott wave Ripple analysis

The XRPUSD chart displays the upward impulse wave currently unfolding. Sub-waves (1) and (2) have completed. Correction (2) is a double zigzag. The wave (3) is currently forming as an impulse 1-2-3-4-5 that should end at a level of 0.534, marked by correction 4.

Trading plan for XRPUSD today:

Buy 0.416, Take profit: 0.534

Elliott wave Ethereum analysis

The ETHUSD has completed the linking wave (X) as a triple zigzag. There is forming a new large upward wave, with sub-wave [1] unfolding inside as an impulse 1-2-3-4-5, as outlined in the chart. The pattern should finish at a level of 2440.00 marked by corrective wave 4.

Trading plan for ETHUSD today:

Buy 1929.83, Take profit: 2440.00

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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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