Short-term forecast for BTCUSD, XRPUSD and ETHUSD 08.04.2022

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 ETHUSD are going down while the XRPUSD is slowly rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD has been moving down after having finished the upward linking wave as a double zigzag [W]-[X]-[Y]. There must be forming the initial part of the new double zigzag [W]-[X]-[Y], sub-wave [W]. The [W] wave should be unfolding as a triple zigzag W-X-Y-XX-Z. The second linking wave XX is to end soon, and the market will be declining in the final sub-wave Z to the previous low of 40399.00, as outlined in the chart.

Trading plan for BTCUSD today:

Sell 43690.46, Take profit: 40399.00

Elliott wave Ripple analysis

The XRPUSD market has been forming the initial part of the new bear wave after the large linking wave XX finished. There should be developing the down double zigzag composed of sub-waves (W)-(X)-(Y). The first motive wave (W) may have completed as a double zigzag W-X-Y of a smaller degree. The market is now rising in the initial part of the bullish linking wave (X), which should finish at a level of 0.830, where the (X) will retrace the (W) by half.

Trading plan for XRPUSD today:

Buy 0.787, Take profit: 0.830.

Elliott wave Ethereum analysis

The ETHUSD market completed the large linking wave XX as a double zigzag [W]-[X]-[Y], and there is now unfolding a new corrective wave as a simple zigzag [A]-[B]-[C]. Sub-wave [A] is currently unfolding as an impulse (1)-(2)-(3)-(4)-(5), which should soon be concluded by sub-wave (5) at a level of 2914.00, the low marked by sub-wave [X].

Trading plan for ETHUSD today:

Sell 3264.99, Take profit: 2914.00.

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

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.

Rate this article:

value ( count title )

Source link

Leave a Reply

Your email address will not be published.