Short-term forecast for BTCUSD, XRPUSD and ETHUSD 19.10.2023


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 form a triple zigzag. Its last actionary wave [Z] can take the shape of a standard zigzag (A)-(B)-(C). The impulse wave (A) has already been completed. Corrective wave (B) is currently unfolding as a double zigzag. Correction (B) will end around the level of 27646.97. Then, expect the price to rise in impulse (C) toward the top (A).

Trading plan for BTCUSD today:

Sell 28279.07, Take profit: 27646.97

Elliott wave Ripple analysis

The linking wave [X] is currently developing as a triple zigzag. The first four parts of this pattern have already been completed. The actionary wave (Z) is currently unfolding as a double zigzag W-X-Y. The price in the last wave Y may rise to 0.544, marked by the previous actionary wave (Y).

Trading plan for XRPUSD today:

Buy 0.479, Take profit: 0.544

Elliott wave Ethereum analysis

The most recent section of the ETHUSD price chart shows the construction of a complex linking wave (X) as a triple zigzag W-X-Y-X-Z. Not long ago, the decline in the linking sub-wave X, which has the shape of a simple zigzag consisting of three waves [A]-[B]-[C], ended. Shortly expect the market to rise in the actionary wave Z, which may take the shape of a double zigzag [W]-[X]-[Y], as shown in the chart. Bulls may again push the market towards the high of 1751.00.

Trading plan for ETHUSD for today:

Buy 1548.20, 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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