Short-term forecast for BTCUSD, XRPUSD and ETHUSD 31.10.2023


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 BTCUSD market continues to develop an uptrend as a double zigzag W-X-Y. The first part of the final actionary wave Y, that is, wave [A], is currently unfolding. Wave [A] is similar to impulse (1)-(2)-(3)-(4)-(5). Corrective wave (4) within this impulse is developing as a horizontal triangle A-B-C-D-E. After the end of the triangle pattern, expect growth to the high of 35224.31.

Trading plan for BTCUSD today:

Buy 34229.29, Take profit: 35224.31

Elliott wave Ripple analysis

Ripple builds an actionary wave (Z) of a large triple zigzag as a standard A-B-C zigzag. Impulse A and correction B have already been completed. The last impulse wave C is currently unfolding. Sub-waves [1]-[2]-[3]-[4] have been completed within impulse C. Soon, expect the price to rise in sub-wave [5] towards the high of 0.582.

Trading plan for XRPUSD today:

Buy 0.569, Take profit: 0.582

Elliott wave Ethereum analysis

The ETHUSD market builds 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 correction (4) is unfolding. Then, expect growth in sub-wave (5). Wave (5) will end at a high of 1862.98.

Trading plan for ETHUSD for today:

Buy 1797.80, Take profit: 1862.98

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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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