Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.03.2022

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.

All three cryptocurrencies covered in the article are forming final motive sub-waves in the double zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the corrective trend as a double zigzag W-X-Y. In late February, the motive down wave W finished, and the market has been moving sideways in the linking wave X, unfolding as a contracting triangle [A]-[B]-[C]-[D]-[E]. There is forming the middle leg of the triangle, sub-wave [C]. which should finish at a level of 42767.00, marked by sub-wave (W). Next, there will be forming sub-wave [D].

Trading plan for BTCUSD today:

Buy 41079.50, Take profit: 42767.00

Elliott wave Ripple analysis

The XRPUSD is forming the final leg in the large triple zigzag W-X-Y-XX-Z. There is developing the final motive wave Z as a double zigzag [W]-[X]-[Y]. So far, the motive wave [W] has completed, and the linking wave [X] is currently developing. Wave [X] is forming as a double zigzag (W)-(X)-(Y), with the first two sub-waves completed inside. The price should soon reach a level of 0.860, where sub-wave (Y) will be 76.4% of wave (W). 

Trading plan for XRPUSD today:

Buy 0.756, Take profit: 0.860.

Elliott wave Ethereum analysis

The ETHUSD market is forming a descending triple zigzag, composed of sub-waves W-X-Y-XX-Z. In late February, the motive wave Y has completed, and the market has been rising in the linking wave XX, unfolding as a double zigzag [W]-[X]-[Y]. The final sub-wave [Y], composed of sub-waves (W)-(X)-(Y), is currently forming. The Ethereum price should be rising in sub-wave [Y] to a level of 3048.00, marked by sub-wave [W].

Trading plan for ETHUSD today:

Buy 0.788, Take profit: 0.860.

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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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