Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.01.2023


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 is building the last impulse wave C, as part of a large actionary wave (W). Wave C consists of five major sub-waves [1]-[2]-[3]-[4]-[5], the first four parts of which have been completed. Shortly, expect bullish growth in the sub-wave [5]. Impulse C will be completed around 22700.00, where it will be 123.6% of the previous impulse wave A.

Trading plan for BTCUSD today:

Buy 20989.66, Take profit: 22700.00


Elliott wave Ripple analysis

The XRPUSD market continues to construct the double zigzag [W]-[X]-[Y]. The actionary wave [W] and the linking wave [X] have already been completed. Now the initial part of wave [Y] is unfolding as a standard zigzag (A)-(B)-(C). It is expected to end around the level of 0.557. The first impulse wave (A) may end at the level of 0.472, where it is profitable to set the first take profit.

Trading plan for XRPUSD today:

Buy 0.385, Take profit: 0.472


Elliott wave Ethereum analysis

Ethereum continues to rise in wave C, which consists of five main sub-waves [1]-[2]-[3]-[4]-[5]. This wave will be completed around the previous high at 2024.38. Now the middle part, impulse [3], is unfolding. The price will rise in the indicated impulse to the level of 1868.00 and then decline in correction [4], as shown in the chart. In the current situation, consider opening long trades.

Trading plan for ETHUSD for today:

Buy 1545.71, Take profit: 1868.00


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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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