Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.10.2023


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

Bitcoin continues to develop the sub-wave [Z], which serves as the last part of the linking wave XX. Wave [Z] will take the shape of a standard zigzag (A)-(B)-(C). The first impulse wave (A) has already been completed. Shortly, expect a decline in correction (B). The price may fall to 27646.97. Growth may resume in impulse wave (C), as shown in the chart. 

Trading plan for BTCUSD today:

Sell 28188.62, Take profit: 27646.97

Elliott wave Ripple analysis

Ripple develops the linking wave [X] as a triple zigzag. The first four parts of this pattern have already been completed. The actionary wave (Z) is currently unfolding as a zigzag A-B-C. The price in the indicated wave may rise to 0.544, marked by the previous actionary wave (Y). In the current situation, consider opening long trades.

Trading plan for XRPUSD today:

Buy 0.487, Take profit: 0.544

Elliott wave Ethereum analysis

Ethereum continues to build a complex linking wave (X) as a triple zigzag W-X-Y-X-Z. The decline has ended in the linking sub-wave X, which has the shape of a standard zigzag [A]-[B]-[C]. Soon expect the market to rise in the actionary wave Z, which may end as a zigzag [A]-[B]-[C], approximately around 1751.00. This level serves as the previous high.

Trading plan for ETHUSD for today:

Buy 1588.16, Take profit: 1751.00

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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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