Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.05.2022


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.

Cryptocurrency prices should continue falling.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD continues developing the simple bearish zigzag [A]-[B]-[C], with the final wave [C] unfolding inside. The [C] wave must be developing as a simple bearish impulse (1)-(2)-(3)-(4)-(5). Sub-waves (1) and (2) have completed, and wave (3) is developing as a bearish impulse 1-2-3-4-5, with final sub-wave 5 developing inside. Sub-wave 5 is composed of waves [1]-[2]-[3]-[4]-[5]. The price should be falling in wave [5] to a level of 26845.00, where wave [5] will be equal to the previous impulse wave [3].

Trading plan for BTCUSD today:

Sell 29431.27, Take profit: 26845.00


Elliott wave Ripple analysis

The XRPUSD is forming the corrective down wave as a triple zigzag (W)-(X)-(Y)-(X)-(Z). The final sub-wave (Z) is unfolding as a standard zigzag A-B-C, with the C wave developing inside as an impulse [1]-[2]-[3]-[4]-[5]. This impulse should soon end at a level of 0.302, where wave (Z) will be 161.8% of wave (Y).

Trading plan for XRPUSD today:

Sell 0.411, Take profit: 0.302


Elliott wave Ethereum analysis

The ETHUSD is developing the bearish standard zigzag [A]-[B]-[C], with the [C] wave unfolding inside as a bearish impulse (1)-(2)-(3)-(4)-(5). So far, sub-waves (1) and (2) have completed. The market is forming the final part of the impulse sub-wave (3), composed of waves 1-2-3-4-5, which should end at a level of 1705.00, where wave [5] will be 200% of wave [3]. These two small sub-waves are the elements of wave 5.

Trading plan for ETHUSD today:

Sell 1839.70, Take profit: 1705.00


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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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