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:
Elliott Wave analysis for Bitcoin
The complex corrective wave [4] is developing on the H4 time frame, presumably as a triple three pattern (W)-(X)-(Y)-(XX)-(Z). Its four parts have been fully completed. The actionary wave (Z) may be developing at the moment and is likely to end as a double zigzag at the low of 56457.74.
Trading plan for BTCUSD for today:
Sell 60804.97, Take profit: 56457.74
Elliott Wave analysis for Ripple
The linking wave [X] is developing in Ripple’s chart and looks like a double zigzag (W)-(X)-(Y). Subwaves (W) and (X) have already formed; the last subwave (Y), a more complex one, is still unfolding. Subwaves W and X have formed within wave (Y). The price is expected to fall in a zigzag-shaped subwave Y to the low of 0.450, where subwave W finished unfolding.
Trading plan for XRPUSD for today:
Sell 0.461, Take profit: 0.450
Elliott Wave analysis for Ethereum
A bullish impulse 1-2-3-4-5 is developing in the ETHUSD’s chart. Its first three parts look complete. A complex correction 4 is currently unfolding as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Its last actionary wave [Z], which is currently developing, may end at 3214.45. At that level, the size of wave [Z] will be 76.4% of wave [Y].
Trading plan for ETHUSD for today:
Sell 3366.07, Take profit: 3214.45
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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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