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 drop to 57317.06 in correction (2). Consider selling from the current level with Take Profit at 57317.06.
- XRPUSD: Expect a fall to 0.500 in correction (4). Consider selling from the current level with Take Profit at 0.500.
- ETHUSD: A bearish correction 2 is expected to develop to 3084.94. Consider selling with Take Profit at 3084.94.
Elliott Wave analysis for Bitcoin
Bitcoin has presumably finished forming a long complex correction [4] – a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The first part of a new bullish wave is likely unfolding as an impulse. Subwave (1) has presumably formed as a leading diagonal, and correction (2) may start soon. Its size may equal 61.8% of subwave (1), so the price may decline to 57317.06.
Trading plan for BTCUSD for today:
Sell 62850.55, Take profit: 57317.06
Elliott Wave analysis for Ripple
The XRPUSD is likely moving in a large downtrend which looks like a triple zigzag W-X-Y-XX-Z. The second linking wave XX may have formed recently, and the price is rising in the first part of the final wave Z, within which the first impulse subwave [A] may be unfolding. Its subwaves (1)-(2)-(3) looked formed. The price may decline soon in correction (4) to the level of 0.500, where its size will equal 38.2% of subwave (3).
Trading plan for XRPUSD for today:
Sell 0.529, Take profit: 0.500
Elliott Wave analysis for Ethereum
The ETHUSD has likely formed a corrective wave (B). The first part of a potential impulse wave may be unfolding in the last segment of the chart. Subwave 1 is presumably completed, and the price may be heading downward in a small correction 2, to around 3084.94. At that level, the size of wave 2 will be 50% of subwave 1.
Trading plan for ETHUSD for today:
Sell 3342.96, Take profit: 3084.94
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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.
