Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.10.2023


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 corrective wave (B) has been completed inside a zigzag wave [Z]. The initial part of the final impulse wave (C) is currently unfolding. There is a high probability that the price will rise again to the high of 30205.38, where the first impulse wave (A) has been completed. In the current situation, consider opening long trades.

Trading plan for BTCUSD today:

Buy 29306.06, Take profit: 30205.38

Elliott wave Ripple analysis

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

Trading plan for XRPUSD today:

Buy 0.509, Take profit: 0.544

Elliott wave Ethereum analysis

The ETHUSD market continues to build 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 ended as a simple zigzag [A]-[B]-[C]. Shortly expect price growth in the actionary wave Z, which can become 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 1581.76, 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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