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
The impulse made of subwaves [1]-[2]-[3]-[4]-[5] is forming in BTCUSD’s chart. Its subwaves [1]-[2]-[3]-[4] are fully completed. The first subwave (1) may be forming as part of wave [5]. Apparently, correction 4 has recently been completed as part of impulse (1), and the price is now growing in subwave 5, probably to a previous high of 71940.00.
Trading plan for BTCUSD for today:
Buy 69529.58, Take profit: 71940.00
Elliott Wave analysis for Ripple
The double zigzag [W]-[X]-[Y] continues forming in Ripple’s chart. The actionary wave [W], made of subwaves (A)-(B)-(C), is likely completed. The linking wave [X] has formed as a horizontal triple three (W)-(X)-(Y)-(XX)-(Z). The bullish wave [Y] is expected to form shortly. Its first impulse subwave (A) may end near the high of 0.565.
Trading plan for XRPUSD for today:
Buy 0.491, Take profit: 0.565
Elliott Wave analysis for Ethereum
Bullish impulse wave (C) – the final part of zigzag (A)-(B)-(C) – is forming in the ETHUSD’s chart. Its first two small subwaves 1 and 2 are completed. The price is likely soaring in subwave [5] of impulse 3, whose subwaves [1]-[2]-[3]-[4] are completed. The price will presumably grow to 4070.43 in subwave [5]. At this level, subwave [5] will be 50% of subwave [3].
Trading plan for ETHUSD for today:
Buy 3674.54, Take profit: 4070.43
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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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