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  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  will be 50% of wave .
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
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” :)
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
- I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
- Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
- Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
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.