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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 XRPUSD market must have completed forming a descending zigzag, and the price should be following a new bullish trend in the next few weeks.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market continues forming a down impulse wave (A) composed of five sub-waves 1-2-3-4-5. The long-term corrective wave 4 has recently completed as a double zigzag. There is unfolding the final wave 5, which could be a regular impulse composed of sub-waves ----. Correction  should end soon, and the price will start declining in wave . The market could go down to a level of 26060.00. At this level, wave 5 will be 50% of wave 3.
Trading plan for BTCUSD today:
Sell 33970.00, TP 26060.00
Elliott wave Ripple analysis
The XRPUSD market must have finished forming the down impulse wave C, which concluded the global zigzag. Therefore, there is unfolding the inceptive part of a new bullish wave of a larger degree. The market could be forming an upward impulse wave composed of sub-waves (1)-(2)-(3)-(4)-(5). The first two sub-waves (1) and (2) look complete, and there is developing sub-wave (3). Wave (3) should end at a level of around 0.783, where correction 4 completed earlier.
Trading plan for XRPUSD today:
Buy 0.591, TP 0.783
Elliott wave Ethereum analysis
Ethereum continues forming the down impulse wave A. The first sub-waves of this large wave have already completed. There is developing the final wave  as a five-wave impulse (1)-(2)-(3)-(4)-(5). The bearish impulse wave (3) must have completed, and the market turned up, rising in correction (4). Therefore, the Ethereum price should be rising in wave (4). next, the price will resume declining in wave (5) to a level of 1700.00, where wave (3) finished earlier.
Trading plan for ETHUSD today:
Sell 1967.88, TP 1700.00
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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.