Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 18.06.2024 | LiteFinance
Dear readers,
I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.
The article covers the following subjects:
Elliott Wave analysis for Bitcoin
Bitcoin continues forming the final part of an upward impulse – wave [5]. The first subwave (1) may have formed as an impulse recently. Correction (2) is currently unfolding, presumably as a zigzag A-B-C. Impulse wave A is completed, and the price is growing in correction B, which may equal 61.8% of subwave A. Thus, the price may rise to the level of 69202.98.
Trading plan for BTCUSD for today:
Buy 65739.75, Take profit: 69202.98
Elliott Wave analysis for Ripple
Ripple continue trending up in a double zigzag [W]-[X]-[Y]. The actionary wave [W] is zigzag-shaped. The linking wave [X] may have formed recently as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The first part of the actionary wave [Y] is currently developing. The price is expected to grow in the first impulse subwave (A) to the high of 0.550, marked by subwave (XX).
Trading plan for XRPUSD for today:
Buy 0.489, Take profit: 0.550
Elliott Wave analysis for Ethereum
Ethereum continues forming a large bullish wave that consists of five parts. The first two subwaves 1 and 2 are completed. Most probably, a bullish impulse wave 3 is currently unfolding. A zigzag-shaped correction [4] made of subwaves A)-(B)-(C) is presumably formed as its part. The price is expected to grow in subwave [5] to the previous high of 3972.35, marked by impulse subwave [3].
Trading plan for ETHUSD for today:
Buy 3455.97, Take profit: 3972.35
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Price chart of BTCUSD in real time mode
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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