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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 .
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
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