Dear readers,
I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.
The article covers the following subjects:
Major Takeaways
- BTCUSD: The first part of a new bullish impulse wave is likely unfolding. Consider long positions from the current level with Take Profit at 108,402.32.
- XRPUSD: A bullish impulse appears to have started developing. Consider long positions with Take Profit at 3.313.
- ETHUSD: The price may have started growing in a new bullish wave 5. Consider buying from the current level with Take Profit at a high of 3,731.01.
Elliott Wave Analysis for Bitcoin
A new bullish wave is developing in the last segment of Bitcoin‘s chart. It may form as an impulse (1)-(2)-(3)-(4)-(5). Its subwaves (1) and (2) are completed. Impulse (3) and the sideways correction (4) are probably completed as well. The latter has developed as a flat. The first part of subwave (5) is unfolding in the last segment of the chart, potentially as an impulse, as shown in the chart. The first projected price target is at 108,402.32, the high marked by impulse (3). Consider long positions in this scenario.
Trading Plan for BTCUSD for Today:
Buy 99,914.65, Take profit: 108,402.32
Elliott Wave Analysis for Ripple
The XRPUSD chart shows a bullish impulse (1)-(2)-(3)-(4)-(5). The powerful impulse subwave (3) is presumably unfolding, with subwaves 1-2-3 potentially completed as its parts. The corrective wave 4 has most likely completed as well, forming a double zigzag. Thus, the impulse wave 5 may be developing at the moment. Its subwaves [1]-[2] are probably completed. The price is expected to rise soon in the third part of impulse [3] to 3.313.
Trading Plan for XRPUSD for Today:
Buy 3.035, Take profit: 3.313
Elliott Wave Analysis for Ethereum
.
ETHUSD‘s H4 chart shows that wave (C) is presumably developing as impulse 1-2-3-4-5 within the actionary wave [Y]. Its subwaves 1 and 2 —a leading diagonal and a zigzag— have formed. Impulse 3 and correction 4, formed as zigzag [A]-[B]-[C], also look complete. The first part of a new bullish wave 5, which may form as an impulse, is developing in the last part of the chart. Consider long positions in this scenario.
Trading Plan for ETHUSD for Today:
Buy 3,396.35, Take profit: 3,731.01
If you want to learn more about classic wave analysis, check out our in-depth article on the Elliott Wave Theory.
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.
Useful links:
- 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/litefinancebrokerchat. 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/litefinance
Price chart of BTCUSD in real time mode
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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
