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: expect a decline in impulse [3] to 54,092.00. Consider opening a short position.
- XRPUSD: a descending impulse [3] is heading for the low of 0.487. Consider opening a short position.
- ETHUSD: a descending corrective wave 3 is unfolding and will probably end at around 2,181.01. Short positions could be considered.
Elliott Wave analysis for Bitcoin
The BTCUSD crypto pair appears to be forming a descending wave С as an impulse [1]-[2]-[3]-[4]-[5]. This impulse began developing after a bullish corrective wave B formed as a zigzag [A]-[B]-[C]. The price dropped recently in impulse wave [1] and then corrected in subwave [2]. An impulse wave [3] may be unfolding at the moment and end at around 54,092.00, where its size will equal the size of wave [1].
Trading plan for BTCUSD for today:
Sell: 58,949.97, Take profit: 54,092.00
Elliott Wave analysis for Ripple
The XRPUSD crypto pair is forming a large bullish zigzag (А)-(В)-(С). Its corrective wave (B) is currently unfolding. Subwaves A and B are fully completed, and the price appears to be falling in the first part of impulse C, which consists of subwaves [1]-[2]-[3]-[4]-[5]. Once the corrective wave [1] formed, the sideways correction [2] started developing, and it looks completed for now. The price may be declining in impulse [3], presumably to the low of 0.487.
Trading plan for XRPUSD for today:
Sell: 0.561, Take profit: 0.487
Elliott Wave analysis for Ethereum
The ETHUSD is most likely developing a large bearish zigzag [A]-[B]-[C], in which impulse [C] is currently unfolding. This wave includes waves of smaller degree (1)-(2)-(3)-(4)-(5). The ascending zigzag (4) has formed recently, and then impulse (5) started unfolding. It includes subwaves 1-2-3-4-5. Subwaves 1 and 2 are completed. The price is expected to drop in the impulse subwave 3 to 2,181.01 in the near time. At that level, the size of wave 3 will be 100% of wave 1.
Trading plan for ETHUSD for today:
Sell: 2,514.02, Take profit: 2,181.01
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. We are sharing the signals and trading experience.
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/litefinance
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.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
