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.
- ETHUSD: the price is rising to the previous high. Consider buying from the current level with Take Profit at 2,818.50.
- XRPUSD: the price continues growing in an ascending impulse (C). Consider long positions with Take Profit at 0.653.
Elliott Wave Analysis for Bitcoin
The BTCUSD is forming a bearish wave, presumably as a zigzag A-B-C. Its first bearish wave A is completed as an impulse. A sideways correction B may be developing as flat [A]-[B]-[C], where corrective subwaves [A] and [B] have already formed. The price is currently growing in impulse [C] and may rise 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 63,901.70, 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). Impulse wave (A) and a zigzag-shaped correction (B) have already formed, and the price is most likely growing in impulse (C). Subwaves 1-2-3-4 have developed as parts of wave (C) by now, and the final subwave 5 is expected to unfold soon and probably reach the high of 0.653.
Trading plan for XRPUSD for today:
Buy 0.616, Take profit: 0.653
Elliott Wave Analysis for Ethereum
The ETHUSD crypto-pair is forming an actionary wave Y as a zigzag [A]-[B]-[C]. After the impulse wave [A] developed, the price corrected in wave [B]. The market is currently heading down in the final impulse wave [C], within which a complex correction (4) seems to be unfolding. Its structure suggests a double zigzag W-X-Y. This corrective pattern is projected to end near the high of 2,818.50.
Trading plan for ETHUSD for today:
Buy 2,639.36, 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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