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: A rise in impulse 3 is expected.
- XRPUSD: Expect a decline to 0.577 in correction (4). Consider selling from the current level with Take Profit at 0.577.
- ETHUSD: The price is expected to rise to a peak of 3652.96 in impulse [3]. Consider buying with Take Profit at 3652.96.
Elliott Wave analysis for Bitcoin
A large descending corrective wave [4] has formed as a triple zigzag in the BTCUSD‘s chart. A new ascending wave is developing. It may form as an impulse (1)-(2)-(3)-(4)-(5), and its first two small subwaves (1)-(2) are presumably completed. A bullish impulse wave (3) may be unfolding at the moment, within which a rise in subwave 3 to a peak of 68230.95 is expected.
Trading plan for BTCUSD for today:
Buy 64498.30, Take profit: 68230.95
Elliott Wave analysis for Ripple
Impulse [A], which has started developing after the linking wave XX formed, continues unfolding in XRPUSD‘s chart. Subwaves (1)-(2)-(3) may have formed as its parts. The price is expected to decline shortly in corrective wave (4), whose size may equal 23.6% of impulse (3). Thus, the price may fall to 0.577. Afterwards, the asset may resume growing.
Trading plan for XRPUSD for today:
Sell 0.612, Take profit: 0.577
Elliott Wave analysis for Ethereum
Ethereum continues developing a new bullish wave after the completion of a complex correction (B). Wave (B) consists of subwaves W-X-Y. An impulse may be currently unfolding, with the first two subwaves 1-2 formed as its parts. The price is expected to rise in subwave [3], which is the third part of subwave 3, to 3652.96 in the near time. That’s the previous high set by subwave A within a triangle pattern.
Trading plan for ETHUSD for today:
Buy 3412.02, Take profit: 3652.96
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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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