Short-term forecast for BTCUSD, XRPUSD and ETHUSD 25.05.2023
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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 continues to form a bearish correction B. Inside it, the last sub-wave [C] is unfolding. Wave [C] can take the shape of a simple impulse (1)-(2)-(3)-(4)-(5), as shown in the chart. Shortly expect a price decrease in the final sub-wave (5) approximately to 25238.12. At this level, correction B will be 50% of impulse A.
Trading plan for BTCUSD today:
Sell 26265.11, Take profit: 25238.12
Elliott wave Ripple analysis
Wave X is unfolding as a double zigzag [W]-[X]-[Y]. The final sub-wave [Y] is being built inside wave X. The actionary wave [Y] will take the shape of the standard impulse (A)-(B)-(C). The first sub-wave (A) has been completed as an impulse. Correction (B) is currently unfolding. Soon impulse C will complete a correction (B) around 0.480, after which bears could push down the price to a low of 0.408.
Trading plan for XRPUSD today:
Buy 0.449, Take profit: 0.480
Elliott wave Ethereum analysis
The ETHUSD market continues to build a downward correction [B] as a standard zigzag. The most recent chart section displays the formation of its last wave (C). Judging by the internal structure, wave (C) will take the shape of a standard impulse 1-2-3-4-5, as shown in the chart. The price will drop to the level of 1672.00, where wave [B] will be 61.8% of the impulse [A].
Trading plan for ETHUSD for today:
Sell 1782.20, Take profit: 1672.00
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