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: an ascending wave 3 may continue developing.
- XRPUSD: the price is growing in impulse (5). Consider buying from the current level with Take Profit at 0.653.
- ETHUSD: the pair is expected to rise in subwave X. Consider long positions with Take Profit at 3472.52.
Elliott Wave analysis for Bitcoin
The BTCUSD is likely forming the first part of a bullish impulse wave in the last segment of the chart after having declined in correction [4]. The first impulse subwave (1) is currently unfolding, within which the first two small subwaves 1 and 2 are completed. Subwave 3 is forming at the moment and expected to reach the level of 70864.00, where the size of subwave [5] will be 61.8% of subwave [3] according to Fibonacci ratios.
Trading plan for BTCUSD for today:
Buy 66484.86, Take profit: 70864.00
Elliott Wave analysis for Ripple
The XRPUSD may be forming a bullish zigzag [A]-[B]-[C] in the last segment of the chart. The price is likely moving in the final part of the first impulse wave [A]. Correction 4 may have formed lately as part of subwave (5), and subwave 5 is currently unfolding. The price is projected to climb to 0.653, where the size of subwave (5) will equal 50% of impulse (3) according to Fibonacci ratios.
Trading plan for XRPUSD for today:
Buy 0.637, Take profit: 0.653
Elliott Wave analysis for Ethereum
The ETHUSD may continue forming a corrective wave (B) within a bullish correction [B]. Wave (B) will likely form as a double zigzag W-X-Y. Its actionary subwave W is completed, and the price is growing in the linking wave X, probably to the high of 3472.52. Then, a downward movement in the second actionary wave Y is expected. Consider long positions in this scenario.
Trading plan for ETHUSD for today:
Buy 3278.07, Take profit: 3472.52
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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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