Bitcoin continues developing the upward impulse wave 5 of a smaller degree. Wave 5 is composed of five sub-waves [1]-[2]-[3]-[4]-[5]. The first four parts of this impulse have completed. After the zigzag-shaped correction [4] finished, the price has started growing in the final wave [5], which could end as a simple impulse. Wave [5] could conclude a larger impulse [5] at a level of around 61800.00. This is the previous high made by wave 3. One could enter buy trades in the current situation.
Trading plan for BTCUSD today:
Buy 58811.50, TP 61800.00
Elliott wave Ripple analysis
A sharp movement of the XRPUSD market suggests that there is developing a bullish impulse, so the previous scenario is canceled. The market should be forming the impulse wave [1]-[2]-[3]-[4]-[5], with the middle part, impulse [3], developing inside. There should be forming the upward wave (3) within wave [3] of a larger degree. An approximate trajectory of the Ripple future price movement is outlined in the chart. The market should be rising to a level of 0.965. Next, the price could start declining in a corrective wave.
Trading plan for XRPUSD today:
Buy 0.878, TP 0.965
Elliott wave Ethereum analysis
The ETHUSD market situation is similar to that of the BTCUSD. The market is forming bullish impulse (5), concluding a larger impulse wave [5] of С. The first four legs of wave (5) seem to have completed. The price is now rising in the final wave 5. The market is likely to reach level 2250.00. Next, the market should turn down and start declining to a level around the previous low. One could enter long trades with a target profit at the end of the C impulse.
Trading plan for ETHUSD today:
Buy 2123.84, TP 2250.00
P.S. Did you like my article? Share it in social networks: it will be the best “thank you" :)
Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.
Useful links:
I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while depositing your trading account.
Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex
Comments