Dear readers,
I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.
Ripple’s price has grown more than expected and will likely rise even higher.
The article covers the following subjects:
Major Takeaways
- BTCUSD: Bullish momentum continues. Consider long positions from the current level with Take Profit at 108,402.32.
- XRPUSD: A bullish impulse continues forming. Consider long positions with Take Profit at 3.515.
- ETHUSD: The price continues growing in a new bullish wave 5. Consider buying from the current level with Take Profit at a high of 3,866.58.
Elliott Wave Analysis for Bitcoin
A new bullish wave is developing in the last segment of Bitcoin‘s chart. It may form as an impulse (1)-(2)-(3)-(4)-(5). Its subwaves (1) and (2) are completed. Impulse (3) and the sideways correction (4) are probably also completed. The latter has developed as a flat. The first part of subwave (5) is unfolding in the last segment of the chart, potentially as an impulse. The first price target is 108,402.32, the high marked by impulse (3).
Trading Plan for BTCUSD for Today:
Buy 101,009.29, Take profit: 108,402.32
Elliott Wave Analysis for Ripple
The XRPUSD chart shows a bullish impulse (1)-(2)-(3)-(4)-(5). The powerful impulse subwave (3) is presumably unfolding at the moment, with subwaves 1-2-3 potentially completed as its parts. The corrective wave 4 is likely formed as a double zigzag. Thus, the impulse wave 5 may be developing at the moment. Its subwaves [1]-[2] are probably complete. The price will continue rising soon in the third part of impulse [3] to 3.515.
Trading Plan for XRPUSD for Today:
Buy 3.306, Take profit: 3.515
Elliott Wave Analysis for Ethereum
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ETHUSD‘s H4 chart shows that wave (C) is presumably developing as impulse 1-2-3-4-5 within the actionary wave [Y]. Its subwaves 1 and 2 — a leading diagonal and a zigzag — have formed. Impulse 3 and correction 4, formed as zigzag [A]-[B]-[C], also look complete. The first part of the new bullish wave 5, which may form as an impulse, is developing in the last part of the chart. Consider long positions in this scenario.
Trading Plan for ETHUSD for Today:
Buy 3,358.03, Take profit: 3,866.58
If you want to learn more about classic wave analysis, check out our in-depth article on the Elliott Wave Theory.
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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
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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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