Short-term forecast for BTCUSD, XRPUSD and ETHUSD 30.05.2023
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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
Bitcoin continues to form a bearish corrective wave B. Inside it, the last sub-wave [C] is unfolding. Wave [C] can take the shape of an ending diagonal consisting of sub-waves (1)-(2)-(3)-(4)-(5), as shown in the chart. Correction (4) went a little higher than the end of wave (1). Shortly expect the price to fall in the final sub-wave (5) to 25292.00. At the specified level, correction B will be 50% of impulse A.
Trading plan for BTCUSD today:
Sell 27744.40, Take profit: 25292.00
Elliott wave Ripple analysis
The XRPUSD market is building a major linking wave X. It can take the shape of a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The second linking wave [X] has been completed. Soon expect the development of the bearish actionary wave [Z]. It will end around the previous low at 0.409. In the current situation, consider opening short trades.
Trading plan for XRPUSD today:
Sell 0.499, Take profit: 0.409
Elliott wave Ethereum analysis
ETHUSD is developing a downward corrective wave [B] as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). Within this corrective pattern, a linking wave (XX) has recently ended. It has a horizontal shape of the A-B-C zigzag. Shortly expect the development of a bearish actionary wave (Z). It will end at the level of 1672.00, where correction [B] will be 61.8% of wave [A].
Trading plan for ETHUSD for today:
Sell 1897.69, Take profit: 1672.00
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