I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
The article covers the following subjects:
Elliott wave Bitcoin analysis
Bitcoin continues to form the actionary wave W as a standard zigzag [A]-[B]-[C] inside a potential double zigzag. The first impulse wave [A] has been completed. Downward corrective wave [B] is currently unfolding. It is expected to end around the level of 25897.50, where it will be 61.8% of the impulse [A].
Trading plan for BTCUSD today:
Sell 27080.66, Take profit: 25897.50
Elliott wave Ripple analysis
The XRPUSD market is developing a new upward pattern as a double zigzag (W)-(X)-(Y). The actionary wave (W) has been completed. Now the price may begin to fall in the linking wave (X). It is expected to end near the price level of 0.470, where it will be 76.4% of wave (W). In the current situation, consider sales.
Trading plan for XRPUSD today:
Sell 0.512, Take profit: 0.470
Elliott wave Ethereum analysis
The linking wave (X) is unfolding as double zigzag W-X-Y in the medium term. The final actionary wave Y will soon take the shape of a simple zigzag [A]-[B]-[C]. The first impulse wave [A] has already been completed. Now the correction is unfolding inside the zigzag wave [B]. It is expected to end near the level of 1582.00, where it will be 61.8% of the impulse [A].
Trading plan for ETHUSD for today:
Sell 1621.55, Take profit: 1582.00
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