Short-term forecast for BTCUSD, XRPUSD and ETHUSD 14.11.2023
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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
The BTCUSD market has completed the horizontal correction (4). Wave (4) took the shape of a contracting triangle A-B-C-D-E. Then wave (5) began unfolding as a 1-2-3-4-5 impulse. Soon expect a price rise to 38900.00, where sub-wave (5) will be 76.4% of the previous impulse wave (3).
Trading plan for BTCUSD today:
Buy 36608.65, Take profit: 38900.00
Elliott wave Ripple analysis
Ripple completed the linking wave [X] as a double zigzag (W)-(X)-(Y)-(X)-(Z). The initial part of a new trend is currently unfolding as a zigzag, as shown in the chart. Shortly, expect a decline in impulse (A) around the price level of 0.559.
Trading plan for XRPUSD today:
Sell 0.661, Take profit: 0.559
Elliott wave Ethereum analysis
The ETHUSD market is forming a bullish impulse wave [A], which consists of five main sub-waves (1)-(2)-(3)-(4)-(5). The first four parts have already been finished. The final rising wave (5) is currently unfolding. Expect completion of correction 4 within impulse (5), and then growth in sub-wave 5 in the direction of level 2176.00. At the indicated level, wave (5) will be 123.6% of impulse (3).
Trading plan for ETHUSD for today:
Buy 2060.80, Take profit: 2176.00
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