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: Correction [2] has ended, and a bullish impulse wave [3] is underway. Consider long trades from the current level with Take Profit at 99,544.73.
- XRPUSD: The price may climb in the impulse wave 3 to the previous high. Consider long trades with Take Profit at 2.995.
- ETHUSD: A new bullish wave 3 is likely emerging. Consider buying ETH from the current level with Take Profit at 2,858.52.
Elliott Wave Analysis for Bitcoin
A bullish wave is developing on the last segment of Bitcoin‘s chart as an impulse (1)-(2)-(3)-(4)-(5). Its sub-waves (1) and (2) are completed, and impulse (3) may have formed, too. The correction (4) has recently formed as a triple zigzag W-X-Y-XX-Z. The last segment of the chart shows that a bullish impulse is likely unfolding. A corrective sub-wave [2] has finished. The price is expected to rise to 99,544.73 in the sub-wave [3] soon.
Trading Plan for BTCUSD for Today:
Buy 93,535.06, Take profit: 99,544.73
Elliott Wave Analysis for Ripple
A global bullish impulse (1)-(2)-(3)-(4)-(5) is developing on the XRPUSD chart. Its large impulse sub-wave (3) is likely completed, and correction (4) has formed as a triple zigzag W-X-Y-X-Z. The initial part of a new bullish pattern is underway. The impulse wave is in progress, with its sub-wave 1 and correction 2 already completed. The price is expected to soar in impulse 3 to 2.995, the high marked by sub-wave X.
Trading Plan for XRPUSD for Today:
Buy 2.216, Take profit: 2.995
Elliott Wave Analysis for Ethereum
The H4 chart of ETHUSD shows a breakdown of a large correction (4) formed as a double zigzag. The last section of the chart shows that a new bullish wave is unfolding as an impulse 1-2-3-4-5. Correction 2 has likely finished, and the price is growing in the impulse sub-wave 3 to the previous high of 2,858.52, where the correction (B) ended earlier.
Trading Plan for ETHUSD for Today:
Buy 1,797.38, Take profit: 2,858.52
If you want to learn more about classic wave analysis, check out our in-depth article on the Elliott Wave Theory.
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Price chart of BTCUSD in real time mode
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