Short-term forecast for BTC/USD, XRP/USD and ETH/USD 17.11.2023
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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 is developing a bearish correction [B] as a double zigzag (W)-(X)-(Y). The first actionary wave (W) has been completed. Shortly, expect growth in the linking wave (X) and a decline in (Y) toward 33380.40. At this level, the correction [B] will be 38.2% of [A].
Trading plan for BTCUSD today:
Sell 36536.80, Take profit: 33380.40
Elliott wave Ripple analysis
A few days ago, Ripple completed the linking wave [X] consisting of sub-waves (W)-(X)-(Y)-(X)-(Z). The initial part of a new trend is currently unfolding. It can take the zigzag shape (W)-(X)-(Y) as shown in the chart. Soon expect a decline in the sub-wave (W) in the shape of a double zigzag W-X-Y approximately to the price level of 0.559.
Trading plan for XRPUSD today:
Sell 0.618, Take profit: 0.559
Elliott wave Ethereum analysis
Ethereum completed a major impulse wave [A]. After this, the price began to decline in the corrective wave [B]. This correction can take the shape of a double zigzag (W)-(X)-(Y). Soon, expect a decline in the last sub-wave (Y) toward 1898.70. At the specified level, correction [B] will be 38.2% of impulse [A]. It is reasonable to enter sales.
Trading plan for ETHUSD for today:
Sell 1985.01, Take profit: 1898.70
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