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I have prepared a short-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
In the coming trading days, a slight increase in prices for three cryptocurrencies and the completion of bullish impulses are expected.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market is rising within the impulse wave (C), which is the final leg in the bullish correction [B]. As part of the wave (C), sub-waves 1-2-3-4 are completed, while the last sub-wave 5 is still unfolding. For its completion, a sub-wave [5] is required. Most likely, the market will reach the level of 49991.00. One could enter buy trades in the current situation.
Trading plan for BTCUSD today:
Buy 45174.99, TP 49991.00
Elliott wave Ripple analysis
The XRPUSD market is unfolding the upward impulse wave C, which is the final part of the zigzag linking wave (X). Wave C consists of five sub-waves [1] – [2] – [3] – [4] – [5]. A few days ago, the market finished declining within the correction [4], and began to rise. Most likely, a bullish wave [5] is unfolding, which will take the form of an impulse (1) – (2) – (3) – (4) – (5). Its completion is expected at level 1.400.
Trading plan for XRPUSD today:
Buy 0.988, TP 1.400
Elliott wave Ethereum analysis
The last section of the ETHUSD chart shows the market growth within a bullish impulse wave. It seems that at the moment, sub-waves (1) – (2) – (3) – (4) are completed. The sub-wave (5) is unfolding as an impulse 1-2-3-4-5. Most likely, the development of wave 5 has begun, which serves as the last part of the beforementioned impulse. Within wave 5, the price may rise above level 3280.00. In the current situation, one can consider opening buy deals to take profit at the abovementioned level.
Trading plan for ETHUSD today:
Buy 3115.09, TP 3280.00
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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 LiteForex. 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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