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:
Key takeaways
- BTCUSD: A complex correction [4] continues developing. The price is projected to drop to 52,391.91. A sell signal: after a breakout at 54,147.55. Stop Loss: 55,074.13, Take Profit: 52,391.91.
- XRPUSD: The price may continue declining to 0.377. A sell signal: after a breakout at 0.3930. Stop Loss: 0.416, Take Profit: 0.377.
- ETHUSD: The price is falling in a zigzag-shaped wave (Y), presumably to 2,806.27. A sell signal: after a breakout at 2,839.90. Stop Loss: 2,934.17, Take Profit: 2,806.27.
Elliott Wave analysis for Bitcoin
Bitcoin’c price is forming a complex corrective wave [4], which is presumably unfolding 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 will likely form as a triple zigzag W-X-Y-XX-Z. Its last subwave Z may end at 52,391.91, where its size will be 100% of Y.
Trading plan for BTCUSD for today:
Sell 54,089.51, Take profit: 52,391.91
Elliott Wave analysis for Ripple
The chart shows the structure of the actionary wave (Y) that is unfolding as a double zigzag W-X-Y. Its final actionary wave Y looks like a double zigzag [W]-[X]-[Y], where each subwave is a double zigzag of smaller degree. The last subwave (Y) will likely end at the low of 0.377. The chart shows an approximate pattern of a future movement.
Trading plan for XRPUSD for today:
Sell 0.395, Take profit: 0.377
Elliott Wave analysis for Ethereum
A corrective wave (B) is developing in Ethereum’s chart, looking like a double zigzag W-X-Y. Its first two parts have already formed. The actionary wave Y is unfolding at the moment, presumably as a double zigzag [W]-[X]-[Y]. Subwave [Y], which may form as a zigzag (A)-(B)-(C), is currently missing for the zigzag [W]-[X]-[Y] to be complete. The price will likely drop to the low of 2,806.27, marked by subwaves W and (A).
Trading plan for ETHUSD for today:
Sell 2,873.55, Take profit: 2,806.27
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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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