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:
Highlights and key points
- BTCUSD: a bullish impulse wave may develop up to the level of 69,940.00.
- XRPUSD: the price is rising in impulse (C) to the high of 0.703. Consider buying from the current level with Take Profit at 0.703.
- ETHUSD: the asset is projected to grow in a bullish impulse wave. Consider buying with Take Profit at 3,396.00.
Elliott Wave analysis for Bitcoin
The BTCUSD has presumably finished forming a large correction [4] as a regular zigzag (A)-(B)-(C). The first part of a new bullish impulse is developing in the last segment of the chart. Its first subwave (1) is completed. A correction (2), which consists of subwaves A-B-C, may also have formed, and a new impulse subwave is likely developing at the moment. Its two small subwaves 1 and 2 are completed. The price may grow shortly to the high of 69,940.00.
Trading plan for BTCUSD for today:
Buy: 63,051.15, Take profit: 69,940.00
Elliott Wave analysis for Ripple
The XRPUSD crypto pair may be forming a linking wave [X], most likely as a simple zigzag (A)-(B)-(C). Its impulse subwave (A) is likely completed. Also, correction (B) may have developed as a zigzag A-B-C. The price is rising in the final impulse wave (C). Its subwaves 1-2-3 are presumably completed. A complex correction 4 may form shortly as a double three pattern [W]-[X]-[Y]. The price is projected to grow soon in subwave 5 to the peak of 0.703.
Trading plan for XRPUSD for today:
Buy 0.588, Take profit: 0.703
Elliott Wave analysis for Ethereum
The ETHUSD crypto pair is likely building an ascending zigzag (A)-(B)-(C), within which a corrective wave (B) has formed as a double zigzag W-X-Y. The first part of a new impulse wave is developing in the last segment of the chart. Its subwaves 1 and 2 – a leading diagonal and a simple zigzag – have presumably formed. The third impulse subwave may be developing at the moment, in which the price may rise above 3,396.00 – the peak marked by correction (4).
Trading plan for ETHUSD for today:
Buy 2,691.02, Take profit: 3,396.00
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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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