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 continues falling in correction 4.
- XRPUSD: The price may grow in subwave 3. Consider buying from the current level with Take Profit at 0.703.
- ETHUSD: Correction 2 will end soon, and the price will start rising. Consider buying with Take Profit at 3279.83.
Elliott Wave analysis for Bitcoin
A new ascending wave is developing in Bitcoin‘s chart. 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) is unfolding at the moment, within which subwave 3 has formed. The price is expected to decline in correction 4 that will likely be 38.2% of wave 3. Thus, the fall will continue to 63986.00.
Trading plan for BTCUSD for today:
Sell 64950.50, Take profit: 63986.00
Elliott Wave analysis for Ripple
Impulse [A], which has started developing after the linking wave XX formed, continues unfolding in the Ripple‘s chart. Subwaves (1)-(2)-(3) have presumably formed as its parts. The corrective wave (4) has likely formed recently, and the price is growing in the final impulse (5), within which subwaves 1 and 2 have formed. The price may continue growing in subwave 3 to 0.703 in the near time.
Trading plan for XRPUSD for today:
Buy 0.597, Take profit: 0.703
Elliott Wave analysis for Ethereum
The first part of a new ascending wave is presumably developing in Ethereum‘s chart as an impulse 1-2-3-4-5. Apparently, its first subwave 1 is completed as an impulse [1]-[2]-[3]-[4]-[5]. The decline in correction 2 is likely nearing completion, and the size of correction may equal 50% of wave 1 according to Fibonacci ratios. Thus, the price is expected to start rising in a new bullish wave shortly. Consider opening long positions with the first Take Profit at 3279.83.
Trading plan for ETHUSD for today:
Buy 3183.19, Take profit: 3279.83
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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.
