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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.
The cryptocurrency pairs should soon finish bullish sub-waves. Let us explore the market situation for each cryptocurrency in detail.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD continues forming the final wave (С), which will conclude the long-term corrective wave [B] of a larger degree. There must be forming the final leg of the bullish impulse 5, with wave (5) of a smaller degree developing inside. The Bitcoin price should go up to a level of 51900.00. It is relevant to buy.
Trading plan for BTCUSD today:
Buy 48774.50, TP 51900.00
Elliott wave Ripple analysis
The hourly XRPUSD price chart displays the upward impulse wave C composed of five sub-waves [1]-[2]-[3]-[4]-[5]. In early August, there completed corrective wave [4], and there is forming the final wave [5]. The final leg of wave [5] is unfolding as an ending diagonal 1-2-3-4-5. The first four parts of the diagonal must have completed, so the Ripple price should be rising in wave 5 to a level of 1.402.
Trading plan for XRPUSD today:
Buy 1.165, TP 1.402
Elliott wave Ethereum analysis
The ETHUSD market is forming the final wave [C] of the large corrective wave B as a five wave impulse. The final fifth wave is developing in the [C] wave. Wave (5) is composed of sub-waves 1-2-3-4-5. The corrective down wave 4 must have completed, and the Ethereum price should be rising in sub-wave 5 to a level of 3670.00.
Trading plan for ETHUSD today:
Buy 3208.47, TP 3670.00
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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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