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: correction [4] is expected to develop.
- XRPUSD: the price may evolve in a bullish correction B. Consider buying from the current level with Take Profit at 0.494.
- ETHUSD: the price may rise in correction 4. Consider buying with Take Profit at 2410.00
Elliott Wave analysis for Bitcoin
Bitcoin is presumably forming a large correction [4] in the form of a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The final actionary wave (Z) may be unfolding. It will most likely form as a regular zigzag A-B-C. Subwave [3] appears to have developed as part of impulse A, and a correction [4] is expected to begin shortly. It may end at around 54368.00.
Trading plan for BTCUSD for today:
Buy 50667.70, Take profit: 54368.00
Elliott Wave analysis for Ripple
The XRPUSD crypto pair may be forming a bearish correction (B) as part of a potential bullish zigzag (A)-(B)-(C). This correction may develop as a regular zigzag A-B-C. Its first impulse subwave A is presumably completed, and a bullish correction B may be unfolding at the moment. Its size will likely be 23.6% of wave A according to Fibonacci ratios. So, the price may rise to 0.494.
Trading plan for XRPUSD for today:
Buy 0.447, Take profit: 0.494
Elliott Wave analysis for Ethereum
Ethereum is presumably 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. The fifth part of the final impulse wave [C] – wave (5) of [C] – is currently developing. Its three parts have been formed. Correction 4 is expected to develop to the level of 2410.00 in the near time.
Trading plan for ETHUSD for today:
Buy 2197.01, Take profit: 2410.00
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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.
