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:
Major Takeaways
- BTCUSD: The price is expected to rise in sub-wave [1] to 97,800.00. Consider long positions with Take Profit at 97,800.00.
- XRPUSD: Correction [2] has ended, and the price is expected to climb in the initial part of sub-wave [3] to the high of 2.581. Consider opening long trades.
- ETHUSD: A new bullish wave could develop soon. Consider buying at the current level with Take Profit at a high of 2,104.33.
Elliott Wave Analysis for Bitcoin
The bullish wave is developing on the last section of Bitcoin‘s chart. It could form as an impulse (1)-(2)-(3)-(4)-(5). Its sub-waves (1), (2), and (3) are complete. It appears that the corrective wave (4) has recently formed as a triple zigzag W-X-Y-XX-Z. On the most recent section of the chart, the initial part of a bullish impulse wave is presumably unfolding. The corrective sub-wave 2 is presumably formed, and the price is expected to rise in sub-wave [1] of wave 3 to 97,800.00 soon.
Trading Plan for BTCUSD for Today:
Buy 95,092.38, Take profit: 97,800.00
Elliott Wave Analysis for Ripple
From a global perspective, a bullish impulse (1)-(2)-(3)-(4)-(5) is developing on the XRPUSD chart. The impulse wave (3) and the corrective wave (4), which took the form of a triple zigzag W-X-Y-X-Z, are likely both completed. The initial part of a new bullish pattern is currently unfolding, presumably as an impulse. Its first two parts — sub-wave 1 and correction 2 — have formed. The price is expected to soar in the impulse wave 3 soon. The sub-wave [1] and [2] of impulse 3 have finished. The asset is expected to advance to the previous high of 2.581. At this level, the linking wave [X] ended earlier.
Trading Plan for XRPUSD for Today:
Buy 2.205, Take profit: 2.583
Elliott Wave Analysis for Ethereum
The H4 chart of the ETHUSD shows a breakdown of a large correction (4). It appears to have completed as a double zigzag. A new bullish wave is developing on the last segment of the chart. It may form as an impulse 1-2-3-4-5. Apparently, correction 2 has recently completed, and the price is now rising within impulse 3 toward the previous high of 2,104.33, where the corrective linking wave [X] ended earlier.
Trading Plan for ETHUSD for Today:
Buy 1,810.20, Take profit: 2,104.33
If you want to learn more about classic wave analysis, check out our in-depth article on the Elliott Wave Theory.
P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂
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 LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
- Telegram chat for traders: https://t.me/litefinancebrokerchat. 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/litefinance
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 broker. 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 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
