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 continues to form a complex correction [4], consisting of sub-waves (W)-(X)-(Y)-(XX)-(Z). The first three parts have been completed. The second linking wave (XX) is currently unfolding as a standard zigzag A-B-C. The final actionary wave [Y] of correction B continues to develop. The price may fall to the level of 58785.00, at which wave B will be 76.4% of wave A.
Trading plan for BTCUSD for today:
Sell 60839.72, Take profit: 58785.00
Elliott Wave analysis for Ripple
After completing the linking wave XX as a double zigzag [W]-[X]-[Y], Ripple began to build the initial part of a new double zigzag. The actionary wave [W], consisting of sub-waves (A)-(B)-(C), has been completed. Then, the decline in a zigzag linking wave [X] began. The price is currently falling in its final impulse sub-wave (C) towards 0.473. At this level, wave [X] will be 61.8% of wave [W].
Trading plan for XRPUSD for today:
Sell 0.487, Take profit: 0.473
Elliott Wave analysis for Ethereum
Ethereum continues to develop the corrective wave (4) as a triple zigzag. The four parts inside it have been completed. The actionary wave Z is currently unfolding as a standard zigzag [A]-[B]-[C]. Bears are targeting the previous low of 2809.00. After reaching this level, a market reversal is expected.
Trading plan for ETHUSD for today:
Sell 2870.46, Take profit: 2809.00
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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 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.
