Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.07.2023

Forex News FX

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. Corrective wave [4] has been completed inside impulse C. It took the shape of a double three. The most recent BTCUSD chart section displays the beginning of price growth within a new fifth wave. The price in wave [5] will rise to the level of 32147.62, which is located on the resistance line drawn through tops B, W, and (X).

Trading plan for BTCUSD today:

Buy 30110.05, Take profit: 32147.62

Elliott wave Ripple analysis

The Ripple market is forming a large triple zigzag's final wave [Z]. Wave [Z] takes the shape of a standard zigzag. The last impulse sub-wave (C) is required for its completion. Sub-waves 1-2-3 have been completed inside the impulse (C). Complex correction 4 is currently unfolding. This correction will take the shape of a double zigzag and end around the low of 0.666.

Trading plan for XRPUSD today:

Sell 0.737, Take profit: 0.666

Elliott wave Ethereum analysis

ETH correction has come to an end. Wave (4) has the shape of the A-B-C zigzag. After the completion of the horizontal pattern, the price will rise. Thus, soon expect the development of an upward wave (5). The price will rise to 2132.50. After reaching the specified level, the market may decline in a new trend.

Trading plan for ETHUSD for today:

Buy 1907.96, Take profit: 2132.50

Disclaimer: 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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