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 may rise to 65,000.00 in the impulse wave (5). Consider a long position.
- XRPUSD: an impulse rise to 0.654 continues. Consider opening long positions.
- ETHUSD: the price may soar to the high of 2,818.49 in the zigzag wave. Long positions could be opened.
Elliott Wave Analysis for Bitcoin
The BTCUSD pair continues to develop a correction, consisting of three sub-waves (W)-(X)-(Y). The final motive sub-wave (Y) is unfolding as a zigzag A-B-C. Its first impulse wave A has formed, and the pair is moving in a complex correction B, which may end as a horizontal wave pattern [A]-[B]-[C] near 65,000.00, the peak of the wave [A]. Against this background, one may consider long positions.
Trading plan for BTCUSD for today:
Buy 61856.25, Take profit: 65000.00
Elliott Wave Analysis for Ripple
On the 4-hour chart, the XRPUSD crypto-pair may be forming a linking wave [X], most likely as a standard zigzag (A)-(B)-(C). Its impulse sub-wave (A) is likely completed. The corrective wave (B) has also been formed, consisting of sub-waves A-B-C. The final wave (C) is developing as an impulse. Therefore, the price is likely to increase to the high of 0.654.
Trading plan for XRPUSD for today:
Buy 0.580, Take profit: 0.654
Elliott Wave Analysis for Ethereum
The ETHUSD pair is forming a complex correction (B) as a double zigzag W-X-Y. An actionary zigzag-shaped wave Y, which consists of sub-waves [A]-[B]-[C], may be unfolding at the moment. Impulse [A] and correction [B] are formed, and the final sub-wave [C] is currently developing. Correction (4), which is made of waves W-X-Y, may be unfolding within impulse [C] and end near the high of 2,818.49, which was marked within the sub-wave W.
Trading plan for ETHUSD for today:
Buy 2404.41, Take profit: 2818.49
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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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This post is originally published on LITEFINANCE.
