Crypto currency

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 07.07.2021

I welcome my readers!

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 leading diagonals and start declining in corrective waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The upward wave (A) continues developing as a leading diagonal composed of sub-waves 1-2-3-4-5. There should be developing the final wave of the diagonal, the upward wave 5. Wave 5 looks like an ending diagonal, as wave [4] finished further than wave [1]. The price should be moving in wave [5] composed of sub-waves (3)-(4)-(5) to a level of 38100.00.

Trading plan for BTCUSD today:

Buy 34692.50, TP 38100.00

Elliott wave Ripple analysis

The XRPUSD market is developing the upward wave A as a leading diagonal. There have completed sub-waves 1]-[2]-[3]-[4]. There is unfolding the final sub-wave [5] as a five-wave impulse (1)-(2)-(3)-(4)-(5). Therefore, the price should be rising in waves (3)-(4)-(5) to a level of 0.760. One could enter long trades in the current situation.

Trading plan for XRPUSD today:

Buy 0.671, TP 0.760

Elliott wave Ethereum analysis

There must be forming the initial part of the bullish simple zigzag [A]-[B]-[C]. Wave [A] is likely to be a leading diagonal. There have completed the first four parts. There should be forming the final wave of the diagonal, sub-wave (5). The price could be rising to a level of 2555.00, marked by a short correction 2. One could enter buy trades in the current situation.

Trading plan for ETHUSD today:

Buy 2379.96, TP 2555.00

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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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