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Short-term forecast for BTCUSD, XRPUSD and ETHUSD 25.05.2023

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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

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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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

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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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