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 is forming a large horizontal linking wave as a triangle. Let us explore the market situation in more detail.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is forming the large corrective wave (B) as a double zigzag W-X-Y. The bearish motive wave W has completed, and there is unfolding the horizontal linking wave X as a contracting triangle [A]-[B]-[C]-[D]-[E]. The third sub-wave of the triangle will finish at a level of 42767.00, marked by the motive wave (W).
Trading plan for BTCUSD today:
Buy 40516.00, Take profit: 42767.00
Elliott wave Ripple analysis
The triangle linking wave (X) finished, and the XRPUSD market has been forming the motive wave (Y), the final leg of the linking wave [X] of a larger degree. The (Y) wave should be unfolding as a standard zigzag A-B-C. The final impulse wave C should finish at a level of 0.860, where the entire wave (Y) will be 76.4% of the (W) wave. Next, the price will be falling in sub-wave [Y] to a level below the low of 0.615.
Trading plan for XRPUSD today:
Buy 0.785, Take profit: 0.860.
Elliott wave Ethereum analysis
The ETHUSD market is forming the second linking wave XX within the triple zigzag W-X-Y-XX-Z of a larger degree. The XX wave is composed of three sub-waves [W]-[X]-[Y]. The first two sub-waves [W] and [X] have completed, and the final motive wave [Y] is forming as a double zigzag (W)-(X)-(Y). The (Y) should be moving up to a level of 3048.00, marked by wave [W], Next, the Ethereum price will be falling in the Z wave.
Trading plan for ETHUSD today:
Buy 2777.50, Take profit: 3048.00.
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.