Short-term forecast for BTCUSD, XRPUSD and ETHUSD 07.04.2022

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 the ETHUSD continue falling, so the previous scenarios have lost their relevance.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD continues falling, so the previous layout has been corrected. The upward linking wave X must have completed, and there is unfolding the initial leg of the bearish double zigzag, sub-wave [W]. The [W] should be developing as a triple zigzag W-X-Y-XX-Z. Sub-waves W-X-Y have completed, so the price should be falling in sub-waves XX-Z. The entire wave [W] should end at a level of 40399.00, marked by the linking wave X.

Trading plan for BTCUSD today:

Sell 43398.00, Take profit: 40399.00

Elliott wave Ripple analysis

The XRPUSD is forming a new corrective trend as a double zigzag (W)-(X)-(Y). The first motive wave (W) has completed as a double zigzag W-X-Y. The price should be rising in the upward linking wave (X) that could finish at a level of 0.830 where wave (X) will be 50% of the (W) wave.

Trading plan for XRPUSD today:

Buy 0.771, Take profit: 0.830.

Elliott wave Ethereum analysis

The ETHUSD layout has also been changed as the market continues declining. There should be forming the first sub-wave [A] of the corrective wave developing as a simple zigzag. The [A] wave could end as a simple impulse (1)-(2)-(3)-(4)-(5), as outlined in the chart. The descending impulse could end at the previous low of 2914.00, marked by the [X] wave.

Trading plan for ETHUSD today:

Sell 3197.19, Take profit: 2914.00.

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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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