Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.11.2023


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 most recent BTCUSD chart section displays the formation of an upward impulse wave [A], which consists of five main sub-waves. The first three sub-waves have already been completed. Corrective sub-wave (4) is currently unfolding as contracting triangle A-B-C-D-E. The entire impulse [A] will end near the high of 35224.31.

Trading plan for BTCUSD today:

Buy 34426.92, Take profit: 35224.31

Elliott wave Ripple analysis

Ripple is building an ascending zigzag A-B-C inside a large actionary wave (Z). The final impulse wave C consisting of sub-waves [1]-[2]-[3]-[4]-[5] is developing right now. Now, a sub-wave [5] is under construction. It is expected to end around the high of 0.615, marked by impulse (3). After reaching the specified level, the market may reverse. Then the price will start to fall.

Trading plan for XRPUSD today:

Buy 0.581, Take profit: 0.615

Elliott wave Ethereum analysis

Ethereum is developing a linking wave (X), which consists of sub-waves W-X-Y. The final actionary wave Y is currently unfolding. Wave Y can take the shape of a standard zigzag [A]-[B]-[C]. Impulse [A] and correction [B] have been completed. Now, the price is moving up in impulse [C], within which a correction (4) is developing. After its completion, expect growth in sub-wave (5). Wave (5) will end at a high of 1862.00.

Trading plan for ETHUSD for today:

Buy 1803.53, Take profit: 1862.00

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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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