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: an ascending zigzag is expected to rise to 64,899.77. Consider a long position.
- XRPUSD: an impulse rise to 0.638 is projected. Consider opening long positions.
- ETHUSD: a bullish zigzag is projected to develop up to 2,814.92. Long positions could be opened.
Elliott Wave Analysis for Bitcoin
The BTCUSD pair continues forming correction [4], which consists of subwaves (W)-(X)-(Y). The final actionary subwave (Y) is currently unfolding, presumably as a zigzag A-B-C. Its impulse wave A has formed, and the pair is moving in a complex correction B, which may end as a double zigzag [W]-[X]-[Y] at around 64,899.77. Consider long positions in this scenario.
Trading plan for BTCUSD for today:
Buy 57,873.14, Take profit: 64,899.77
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. The corrective wave (B) may be forming at the moment as a regular zigzag A-B-C. Impulse A has already formed, and the final part of correction B appears to be developing. A complex correction [B] may have formed as part of correction B, and the price is currently growing in impulse [C], probably to the high of 0.638, marked by impulse [A].
Trading plan for XRPUSD for today:
Buy 0.565, Take profit: 0.638
Elliott Wave Analysis for Ethereum
Ethereum is forming a complex correction (B) as a double zigzag W-X-Y. An actionary zigzag-shaped wave Y, which consists of subwaves [A]-[B]-[C], may be unfolding at the moment. Impulse [A] and correction [B] are formed, and the final subwave [C] is currently developing. Correction (4), which is made of waves W-X-Y, may be unfolding within impulse [C] and end at around 2,814.92.
Trading plan for ETHUSD for today:
Buy 2,344.08, Take profit: 2,814.92
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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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