Short-term forecast for BTCUSD, XRPUSD and ETHUSD 14.03.2022

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 are forming bearish waves as five-wave impulses. 

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the global corrective wave (B) as a double zigzag W-X-Y. The current chart displays the structure of the final wave Y, unfolding as a simple zigzag [A]-[B]-[C], where impulse sub-wave [A] and corrective sub-wave [B] have completed. The impulse wave [C] is currently unfolding. The Bitcoin price should go down to level 32800.00, where impulse sub-wave (3) is to finish.

Trading plan for BTCUSD today:

Sell 38460.00, Take profit: 32800.00

Elliott wave Ripple analysis

The XRPUSD market is forming the large bearish wave [Y] as a double zigzag (W)-(X)-(Y). The final motive wave (Y) is developing as a triple zigzag W-X-Y-XX-Z.The hourly timeframe displays the final part of this pattern. The Z wave is unfolding as a double zigzag [W]-[X]-[Y]. There is developing the linking wave [X] as a double zigzag (W)-(X)-(Y) of a smaller degree, where the (X) is a contracting triangle, which should end at a level of 0.905. At the indicated level, waves (W) and (Y) will be equal.

Trading plan for XRPUSD today:

Buy 0.764, Take profit: 0.905.

Elliott wave Ethereum analysis

The ETHUSD market is forming the large corrective trend as a triple zigzag W-X-Y-XX-Z. The current chart displays the structure of the final wave Z, unfolding as a simple zigzag [A]-[B]-[C]. The first two sub-waves of the zigzag have completed, and the final sub-wave [C] is currently developing as a five-wave impulse (1)-(2)-(3)-(4)-(5) as outlined in the chart. Sub-wave (3) should finish at a level of 2150.00.

Trading plan for ETHUSD today:

Sell 2568.54, Take profit: 2150.00.

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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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