Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 04.07.2024

July 4, 2024 10:28 am

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:

Elliott Wave analysis for Bitcoin

Bitcoin’c price is forming a complex corrective wave [4], which is presumably unfolding as a triple three pattern (W)-(X)-(Y)-(XX)-(Z). Its four parts have been fully completed. The actionary wave (Z) may be developing at the moment and is likely to end as a triple zigzag W-X-Y-XX-Z at the low of 56,457.74, marked by wave (Y). 

Trading plan for BTCUSD for today:

Sell 58,818.89, Take profit: 56,457.74

Elliott Wave analysis for Ripple

The linking wave [X] continues developing in Ripple’s chart, looking like a double zigzag (W)-(X)-(Y). Subwaves (W) and (X) have already formed; the last subwave (Y), a more complex one, is still unfolding. Subwaves W and X have formed within wave (Y). The price is expected to fall in a zigzag-shaped subwave Y to 0.438, where the size of wave Y will be 76.4% of W.

Trading plan for XRPUSD for today:

Sell 0.452, Take profit: 0.438

Elliott Wave analysis for Ethereum

Ethereum’s price may be forming a corrective wave (B), which looks like a double zigzag W-X-Y. Its first two parts have already formed. The actionary wave Y is unfolding at the moment, presumably as a double zigzag [W]-[X]-[Y]. Subwave [Y] is missing for the zigzag to be complete. The price will likely drop to the low of 2,806.27, marked by subwave W.

Trading plan for ETHUSD for today:

Sell 3,208.22, Take profit: 2,806.27

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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.

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