Short-term forecast for BTCUSD, XRPUSD and ETHUSD 10.06.2022

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 triple threes; the ETHUSD could be forming a horizontal triangle. 

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the motive wave W as a simple zigzag [A]-[B]-[C]. The final wave [C] is unfolding as a bearish impulse (1)-(2)-(3)-(4)-(5). Wave (4) is unfolding as a triple three W-X-Y-X-Z. The Bitcoin price should go down in the impulse sub-wave [C] to a level of 28100.00, where the linking wave X should end as outlined in the chart. Next, the price should be rising in the motive wave Z.

Trading plan for BTCUSD today:

Sell 30127.00, Take profit:  28100.00

Elliott wave Ripple analysis

The XRPUSD market is forming a descending motive wave as an impulse, with corrective sub-wave (4) unfolding inside. Wave (4) is composed of sub-waves W-X-Y-X-Z, with sub-waves W-X-Y completed. The linking wave X is currently unfolding; it could end as a double zigzag [W]-[X]-[Y] at a level of 0.376, marked by the first linking wave X.

Trading plan for XRPUSD today:

Sell 0.405, Take profit: 0.376

Elliott wave Ethereum analysis

The ETHUSD is forming the descending wave as an impulse, with correction (4) unfolding inside as a horizontal triangle A-B-C-D-E. The first three legs of the triangle have completed. Wave D is currently developing as a double zigzag [W]-[X]-[Y], which should finish at a level of 1696.00, the previous low. 

Trading plan for ETHUSD today:

Sell 1792.93, Take profit: 1696.00

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.