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I have prepared a short-term forecast on cryptocurrency based on Elliott wave analysis of Bitcoin, Ripple and Ethereum. I offer input signals to trade every cryptocurrency.
Ripple completed the correct pattern, so the price would grow on impulse
The article deals with the following topics:
Analysis of Elliott wave Bitcoin
The BTCUSD market should form the initial part of the bear impulse wave. Two subwaves 1 and 2 have been completed, so the third wave should be unfolding as impulse (1) – (2) – (3) – (4) – (5). The price of Bitcoin should decrease to a level of 47000.00 and lower. One could enter sales businesses.
Business plan for BTCUSD today:
Sold 50520.50, TP 47000.00
Elliott Wave Analysis
The market must develop the first part of a large bullish momentum, wave (1). Wave (1) develops as a five-wave impulse composed of the 1-2-3-4-5 sub-waves. The market could have finished the deep corrective wave 4 as a triple combination [W]-[X]-[Y]-[X]-[Z], so the Ripple price would rise in the final wave 5 to a level of 1961, marked by a big wave [1].
Business plan for XRPUSD today:
Buy 1,343, TP 1,961
Elliott wave Ethereum analysis
The most recent ETHUSD sectional chart shows the diagonal (1) – (2) – (3) – (4) – (5), which certainly ended the global impulse wave C. Later, the price went down and started to decline. A new bear trend should develop and the price should go down to a level below 3352.00. Therefore, one could enter a sell trade and the current price with a target at level 3352.00.
Business plan for ETHUSD today:
Sold 4000.17, TP 3352.00
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Price chart of BTCUSD in real-time mode
The content of this article reflects the opinion of the author and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for information purposes only and should not be construed as a provision of investment advice for the purposes of Directive 2004/39 / EC.
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