Short-term forecast for BTCUSD, XRPUSD and ETHUSD 29.04.2022

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.

Cryptocurrencies BTCUSD, ETHUSD are expected to decline within the impulse. The XRPUSD market will rise in a corrective linking wave (X).

The article covers the following subjects:

Elliott wave Bitcoin analysis

Bitcoin continues to form a bearish impulse after the completion of the bullish linking wave [X]. Wave [X] is a standard zigzag (A)-(B)-(C). At the moment, sub-waves (1) and (2) of the new impulse have been completed. Soon, the price is expected to fall within sub-wave (3) towards level 33818.00. At this level, wave (3) will be 123.6% of wave (1). In the current situation, I recommend entering sales.

Trading plan for BTCUSD today:

Sell 39427.50, Take profit: 33818.00

Elliott wave Ripple analysis

The XRPUSD market continues to develop the actionary wave [Y] as a bearish double zigzag (W)-(X)-(Y). Wave [Y] is part of a large triple zigzag. The construction of the actionary wave (W) as a bearish double zigzag W-X-Y has come to an end. Thus, shortly, an upward movement of the price is expected within the linking wave (X). The growth of the market will continue to level 0.690, at which wave (X) will reach the Fibonacci level of 38.2% of wave (W).

Trading plan for XRPUSD today:

Buy 0.636, Take profit: 0.690

Elliott wave Ethereum analysis

The ETHUSD market is developing a downtrend. Possibly, a bearish zigzag [A]-[B]-[C] is now unfolding, which has already completed sub-waves [A]-[B], an impulse and a zigzag. Now the last impulse wave [C] is developing. Most likely, sub-waves (1) and (2) have been completed. In the near future, the price may fall within the impulse sub-wave (3), towards level 2403.24, as shown on the chart. At this level, wave (3) will be 161.8% of wave (1).

Trading plan for ETHUSD today:

Sell 2907.10, Take profit: 2403.24

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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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