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:Β Expect a decline to 0.556 in correction (4). Consider selling from the current level with Take Profit at 0.556.
- ETHUSD:Β 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 has likely formed as a triple zigzag in the BTCUSD‘s chart. A new ascending wave is developing and may form as an impulse (1)-(2)-(3)-(4)-(5). Its first two small subwaves (1)-(2) are presumably completed. A bullish impulse wave (3) is unfolding at the moment, within which a rise to a peak of 68230.95 is expected.
Trading plan for BTCUSD for today:
Buy 65680.93, Take profit: 68230.95
Elliott Wave analysis for Ripple
A bullish impulse [A], which started developing after the linking wave XX formed, is presumably unfolding in Ripple‘s chart. Subwaves (1)-(2)-(3) have formed as its parts. The price is expected to decline shortly in correction (4), whose size may equal 23.6% of impulse (3). Thus, the price may fall to 0.556 and resume growing afterward.Β
Trading plan for XRPUSD for today:
Sell 0.545, Take profit: 0.556
Elliott Wave analysis for Ethereum
A new bullish wave is presumably unfolding in the ETHUSD‘s chart after a complex correction (B) has formed. Wave (B) consists of subwaves W-X-Y. An impulse is presumably developing, with the first two subwaves 1-2 formed as its parts. The price is expected to rise in subwave [3] to 3652.96 soon. That’s the previous high set by subwave A within a triangle correction (4).
Trading plan for ETHUSD for today:
Buy 3499.91, Take profit: 3652.96
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Price chart of BTCUSD in real time mode
The content of this article reflects the authorβs 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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