Short-term forecast for BTCUSD, XRPUSD and ETHUSD 13.10.2023


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 double zigzag W-X-Y is currently unfolding with the linking wave X developing inside it. It can take the shape of a standard zigzag [A]-[B]-[C]. Impulse [A] and correction [B] have been completed. Now, the price is falling in impulse [C]. There is a high probability that BTC will fall to 26417.00, at which wave X will be 61.8% of wave W. Then expect a price rise in the new wave.

Trading plan for BTCUSD today:

Sell 26817.43, Take profit: 26417.00

Elliott wave Ripple analysis

The XRPUSD market continues to form a corrective pattern, which has a complex structure. The triple zigzag (W)-(X)-(Y)-(XX)-(Z) is currently unfolding. The actionary wave (Y) ended at the beginning of this month. Then, the price decreased in the linking wave (XX). It will take the shape of a standard zigzag and end around the price level of 0.456. Expect completion of impulse C of (XX). 

Trading plan for XRPUSD today:

Sell 0.477, Take profit: 0.456

Elliott wave Ethereum analysis

At the beginning of October, Ethereum completed the linking wave (X), which has the shape of a double zigzag W-X-Y. The initial part of the new bearish wave is currently unfolding. Two parts of the potential impulse, sub-waves 1 and 2, have been completed. Sub-wave [1] of a smaller degree has also been completed. Shortly, expect the formation of a correction [2] around 1606.50.

Trading plan for ETHUSD for today:

Buy 1538.44, Take profit: 1606.50

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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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