Crypto currency

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.06.2021

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.

Bitcoin has started forming the final impulse in the corrective wave. Ethereum and Ripple should be following corrective waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The hourly BTCUSD price chart displays the extended corrective wave [2] currently unfolding as a simple zigzag (A)-(B)-(C). Corrective wave (B) of this zigzag has a complex structure of the double zigzag W-X-Y. There is developing the impulse wave (C), namely, its final leg, as the first four sub-waves look complete. The price should soon go up to a level of 44500.00. At this level, wave [2] will be 50% of wave [1].

Trading plan for BTCUSD today:

Buy 37839.50, TP 44500.00

Elliott wave Ripple analysis

The XRPUSD chart displays the middle part of a large corrective pattern. Most likely, there is forming a double zigzag, with the linking wave developing inside. Wave (X) is composed of three sub-waves W-X-Y; the first two sub-waves have completed, and the final wave Y is still developing. The Y wave must end as a double zigzag [W]-[X]-[Y]. The Ripple price should be rising in the final leg of this zigzag, sub-wave [Y]. The market should go up to a level of 1.153, where wave (X) will be 38.2% of the motive wave (Y).

Trading plan for XRPUSD today:

Buy 0.837, TP 1.153

Elliott wave Ethereum analysis

The ETHUSD market is forming corrective wave 2. This correction has a complex structure and seems to be a triple zigzag [W]-[X]-[Y]-[X]-[Z]. There must have completed the second linking wave [X], which is also a triple zigzag. There is unfolding the final wave [Z] as a double zigzag (W)-(X)-(Y), which will be concluded by wave (Y). The Ethereum price should go up to a level of 3027.43, where wave 2 will be 50% of impulse 1.

Trading plan for ETHUSD today:

Buy 2336.48, TP 3027.43

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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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