Crypto Euphoria or Market Frenzy? Expert Insight on Near-Term Outlook for Bitcoin, Ripple, and Ethereum

By Gustavo Nils Nov2,2023

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I welcome my readers! 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 reached the previous target. The sideways corrective wave (4), having a triangular internal structure, has already been completed. The final bullish wave (5) is now forming. The price in this wave may rise to the level of 36537.67. Thus, in the current situation, consider opening long trades before the trend reverses.

Trading plan for BTCUSD today: Buy 35224.31, Take profit: 36537.67

Elliott wave Ripple analysis:
The XRPUSD market is building an upward zigzag A-B-C inside a large actionary wave (Z). The final impulse wave C consisting of sub-waves [1]-[2]-[3]-[4]-[5] is currently unfolding. Sub-wave [5] is developing right now. It is expected to end around the high of 0.615, marked by impulse (3). After reaching the specified level, the market may reverse. Then the price will start to fall.

Trading plan for XRPUSD today: Buy 0.601, Take profit: 0.615

Elliott wave Ethereum analysis:
Ethereum continues to build a global linking wave (X) consisting of three main sub-waves W-X-Y. The final actionary wave Y is currently unfolding. It can take the shape of a standard zigzag [A]-[B]-[C]. Impulse [A] and correction [B] have been completed. Now, the price is moving up in impulse [C], within which correction (4) has come to an end. The price is growing in sub-wave (5). Wave (5) may end at a high of 1873.57.

Trading plan for ETHUSD for today: Buy 1837.78, Take profit: 1873.57

P.S. Did you like my article? Share it on social networks. 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.
– Use my promo-code BLOG for getting a deposit bonus 50% on LiteFinance platform.
– Telegram chat for traders.
– Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. 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 2004/39/EC.

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