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I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
The article covers the following subjects:
Elliott wave Bitcoin analysis
Bitcoin forms an actionary wave W as a standard zigzag [A]-[B]-[C]. The first impulse wave [A], consisting of five parts, has been completed. A downward corrective wave [B] is currently unfolding. This wave will end around the level of 25897.50, where it will most likely be 61.8% of the impulse [A].
Trading plan for BTCUSD today:
Sell 26834.84, Take profit: 25897.50
Elliott wave Ripple analysis
The most recent XRPUSD chart section displays the formation of a new ascending pattern, which may take the shape of a double zigzag (W)-(X)-(Y). Actionary wave (W) has been completed. Now, the price may fall in the linking wave (X). It is expected to end near the level of 0.468, where it will be 76.4% of wave (W). In the current situation, consider sales.
Trading plan for XRPUSD today:
Sell 0.504, Take profit: 0.468
Elliott wave Ethereum analysis
The linking wave (X) is currently unfolding as a double zigzag W-X-Y. The final actionary wave Y will soon take the shape of a simple zigzag [A]-[B]-[C]. The first impulse wave [A] has already been completed. Now, the correction is developing inside the zigzag wave [B]. It is expected to end near the level of 1582.00, where it will be 61.8% of the impulse [A].
Trading plan for ETHUSD for today:
Sell 1633.63, Take profit: 1582.00
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