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: the price may rise to 65,000.00 in the impulse wave (5). Consider a long position.
- XRPUSD: an impulse rise to 0.653 continues. Consider opening long positions.
- ETHUSD: the price may soar to the high of 2,818.50 in the zigzag wave. Long positions could be opened.
Elliott Wave Analysis for Bitcoin
The BTCUSD pair is developing a bearish motive wave as a zigzag A-B-C. The first downward wave A has finished as an impulse. Currently, a corrective wave B may unflold as a horizontal wave pattern [A]-[B]-[C]. Sub-waves [A]-[B] have been concluded. The price is rising within an impulse sub-wave [C], which may end at the high of 65,000.00 marked by wave [A]. Once the price reaches this level, the cryptocurtrency will start to decline.
Trading plan for BTCUSD for today:
Buy 63560.63, Take profit: 65000.00
Elliott Wave Analysis for Ripple
The XRPUSD is forming a corrective linking wave [X] as a zigzag (A)-(B)-(C). An impulse wave (A) and zigzag correction B have finished. The price is increasing within an impulse wave (C). Currently, sub-waves 1-2-3-4 have finished, and the final sub-wave 5 is emerging within the wave (C). The price is expected to rise to 0.653.
Trading plan for XRPUSD for today:
Buy 0.579, Take profit: 0.653
Elliott Wave Analysis for Ethereum
The ETHUSD pair is forming a motive wave Y as a zigzag [A]-[B]-[C]. An impulse wave [A] has finished, and the price corrected within a wave [B]. Since late July, the cryptocurrency has declined within the final impulse wave [C]. It includes complex correction (4), taking the shape of a double zigzag W-X-Y. The correction is projected to end near the high of 2,818.50, which was marked in the sub-wave W. An impulse wave (C) within the wave [Y] is required to finish the wave Y.
Trading plan for ETHUSD for today:
Buy 2608.60, Take profit: 2818.50
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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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This post is originally published on LITEFINANCE.
