I welcome my readers!
I have prepared a short-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
The BTCUSD and ETHUSD must have completed bullish corrections, so the price should falling in new bearish impulses.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues forming the motive wave Y as a double zigzag [W]-[X]-[Y], with the first two sub-waves [W] and [X] completed inside as standard zigzags. The price is now going down, forming the motive sub-wave [Y] as a simple zigzag (A)-(B)-(C). The bullish correction (B) must have completed, so the price should be declining in the (C) wave towards the low of 34288.00.
Trading plan for BTCUSD today:
Sell 41423.00, Take profit: 34288.00
Elliott wave Ripple analysis
The XRPUSD market is forming the final sub-wave Z of the global triple zigzag. The Z wave is unfolding as a double zigzag [W]-[X]-[Y], with the first motive sub-wave [W] completed and the linking wave [X] developing inside as a double zigzag (W)-(X)-(Y) of a smaller degree. The [X] wave should end at a level of 0.829, where wave (Y) will be 76.4% of the (W) wave.
Trading plan for XRPUSD today:
Buy 0.744, Take profit: 0.829.
Elliott wave Ethereum analysis
The ETHUSD market situation is similar to that of the BTCUSD. There is forming the bearish double zigzag, with the first two zigzag-shaped sub-waves [W] and [X] completed inside. The final sub-wave [Y] is currently unfolding as a simple zigzag (A)-(B)-(C). The bullish correction (B) must have completed, and the market should be falling in sub-wave (C) towards the previous low of 2298.00.
Trading plan for ETHUSD today:
Sell 2708.14, Take profit: 2298.00.
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.
- 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: https://t.me/liteforexengchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.