Dear readers,
I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.
The article covers the following subjects:
Highlights and key points
- BTCUSD: the pair may continue to correct to the high of 62783.93. Consider long trades at the current level with a take-profit at 62783.93.
- XRPUSD: the price is expected to grow in the impulse wave (C) to the high of 0.654. Consider long trades at the current level with a take-profit at 0.654.
- ETHUSD: the price continues to trade in correction (4). Consider long trades with a take-profit at 2732.14.
Elliott Wave analysis for Bitcoin
The BTCUSD pair is developing a complex correction [4] as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The final motive wave (Z) is unfolding as a standard zigzag A-B-C. The impulse sub-wave A has finished. Correction B is underway, taking the shape of a double zigzag [W]-[X]-[Y]. It is expected to terminate near the high of 62783.93.
Trading plan for BTCUSD for today:
Buy: 57309.73, Take profit: 62783.93
Elliott Wave analysis for Ripple
The XRPUSD pair may form a linking wave [X] as a standard zigzag (A)-(B)-(C). The impulse sub-wave (A) is completed. Correction (B) has also ended as an A-B-C zigzag. The price is rising within the last impulse wave (C). Most likely, sub-waves 1-2-3-4 are completed, so the price may soar in the sub-wave 5 towards the high of 0.654, which was reached within the impulse wave (A).
Trading plan for XRPUSD for today:
Buy: 0.554, Take profit: 0.654
Elliott Wave analysis for Ethereum
The ETHUSD pair is developing a prolonged and complex correction (B) as a double zigzag W-X-Y. The current zigzag wave Y, consisting of sub-waves [A]-[B]-[C], can be formed. An impulse wave [A] and correction [B] have been completed, while the last sub-wave [C] is in progress. Three parts of the impulse wave [C] have been finished. Correction (4) is developing, consisting of sub-waves W-X-Y. Now, the price may increase to 2732.14.
Trading plan for ETHUSD for today:
Buy: 2563.69, Take profit: 2732.14
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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 LiteFinance. 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.