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 impulse wave continues evolving as part of correction B. Consider buying from the current level with Take Profit at 68,578.00.
- XRPUSD: the price continues growing in impulse (C). Consider long positions with Take Profit at 0.653.
- ETHUSD: quotes are rising to the previous high. Consider buying from the current level with Take Profit at 2,818.50.
Elliott Wave Analysis for Bitcoin
A bearish wave is developing in the last part of the BTCUSD chart, presumably as zigzag A-B-C. Its first bearish wave A has formed as an impulse. Correction B may be developing as flat [A]-[B]-[C], and its subwaves [A] and [B] are completed. The price is currently growing in impulse [C] and will likely climb to 68,578.00. At that level, the size of wave [C] will be 100% of wave [A].
Trading plan for BTCUSD for today:
Buy 64,523.98, Take profit: 68,578.00
Elliott Wave Analysis for Ripple
The XRPUSD crypto-pair continues forming a linking wave [X], most likely as a zigzag (A)-(B)-(C). Its impulse (A) and zigzag-shaped correction (B) are completed. The price is highly likely growing in impulse (C), within which subwaves 1-2-3-4 have already formed. The final subwave 5 is expected to develop soon and probably reach the level of 0.653.
Trading plan for XRPUSD for today:
Buy 0.642, Take profit: 0.653
Elliott Wave Analysis for Ethereum
The ETHUSD is most likely forming an actionary wave Y as a zigzag [A]-[B]-[C]. Its impulse [A] and correction [B] are completed. The market is currently heading down in the final impulse wave [C], within which a complex correction (4) is presumably developing as a double zigzag W-X-Y. This corrective pattern is expected to stop forming near the high of 2,818.50.
Trading plan for ETHUSD for today:
Buy 2,633.11, Take profit: 2,818.50
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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.
