I welcome my readers!
I have prepared a short-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
Bitcoin and Ethereum have completed corrective waves. The prices should start rising in impulse waves.
The article covers the following subjects:
Elliott wave Bitcoin analysis
Elliott wave Ripple analysis
Elliott wave Ethereum analysis
Elliott wave Bitcoin analysis
The hourly timeframe of the BTCUSD price chart displays the impulse wave [5] with wave 5 unfolding inside. Wave 5 is composed of the sub-waves [1]-[2]-[3]-[4]-[5] of a smaller degree. The market must have completed the corrective down wave [4] as a simple zigzag (A)-(B)-(C). If the assumption is correct, the market should be rising in sub-wave [5] of a smaller degree towards level 61800.00 over the next few days. Level 61800.00 is the previous high. One could enter purchases in the current situation.
Trading plan for BTCUSD today:
Buy 56593.50, TP 61800.00
Elliott wave Ripple analysis
The most recent section of the XRPUSD price chart displays the upward impulse, which has started after the triangle corrective wave completed. There have completed impulse wave (1) and a short corrective wave (2). There is now unfolding a more extended wave (3) having an impulse structure. The market may have finished declining in correction 4, so the price should be rising in wave 5 to a level of 1.230. One could enter buy trades in the current situation.
Trading plan for XRPUSD today:
Buy 0.919, TP 1.230
Elliott wave Ethereum analysis
The most recent section of the ETHUSD chart displays the final leg of the bullish impulse C. There is developing sub-wave (5) in the impulse wave [5]. Wave (5) is composed of the sub-waves 1-2-3-4-5. This week, the market seems to have finished the corrective down wave 4 composed of the sub-waves [A]-[B]-[C]. Therefore, the Ethereum price should be rising in sub-wave 5 to a level of 2280.00. It is relevant to enter long positions in the current situation.
Trading plan for ETHUSD today:
Buy 1995.28, TP 2280.00
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://www.cryptocurrencytradingtips.com. 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://www.cryptocurrencytradingtips.com
Comments