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:
Elliott Wave analysis for Bitcoin
The scenario remains the same: the complex corrective wave [4] is presumably developing as a triple three pattern (W)-(X)-(Y)-(XX)-(Z). Its four parts have been fully completed. The actionary wave (Z) may be developing at the moment and is likely to end as a double zigzag at the low of 56,457.74, marked by wave (Y).
Trading plan for BTCUSD for today:
Sell 61,574.19, Take profit: 56,457.74
Elliott Wave analysis for Ripple
The linking wave [X] is developing in Ripple’s chart, looking like a double zigzag (W)-(X)-(Y). Subwaves (W) and (X) have already formed; the last subwave (Y), a more complex one, is still unfolding. Subwaves W and X have formed within wave (Y). The price is expected to fall in a zigzag-shaped subwave Y to the low of 0.450, where subwave W finished unfolding.
Trading plan for XRPUSD for today:
Sell 0.472, Take profit: 0.450
Elliott Wave analysis for Ethereum
A bullish impulse 1-2-3-4-5 is unfolding in the last segment of the chart, and its first three parts look complete. A complex correction 4 is currently forming as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Its last actionary wave [Z], which is currently developing, may end at 3,234.05 — the low marked by actionary subwave (W).
Trading plan for ETHUSD for today:
Sell 3,444.54, Take profit: 3,234.05
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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
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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.
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