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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 have started forming the final impulses in bullish zigzags.
The article covers the following subjects:
Elliott wave Bitcoin analysis
By May 10, the BTCUSD market completed the zigzag-shaped correction 2. Next, the price started declining. There could be unfolding the initial part of a new impulse. The market must have completed the impulse down wave , and the price is rising in the bullish correction . Wave  is likely to be a simple zigzag. Impulse (A) and correction (B) seem to be complete, so the market will be rising in the impulse wave (C). The price could reach level 48300.00. At this level, wave  will be 61.8% of wave .
Trading plan for BTCUSD today:
Buy 39279.50, TP 48300.00
Elliott wave Ripple analysis
The XRPUSD market is forming a large double zigzag. Wave (W) is composed of three major sub-waves A-B-C. Impulse wave A and correction B have competed. Corrective wave B is a double zigzag. The impulse down wave C must have completed. The market is rising, there may have completed the first impulse wave A and the down correction B. The price should be rising in the C impulse to a level of 1.187.
Trading plan for XRPUSD today:
Buy 1.026 TP 1.187
Elliott wave Ethereum analysis
The ETHUSD market has started declining after the upward impulse wave C completed. There is unfolding the beginning of the new bear impulse. The bearish wave 1 completed as an impulse. Next, there have finished two sub-waves [A]-[B] of the zigzag-shaped correction 2. There should be developing impulse [C], as it is outlined in the chart. The Ethereum price could go up to a level of 2991.00, where wave 2 will be 50% of wave 1.
Trading plan for ETHUSD today:
Buy 2783.10, TP 2991.00
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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.