Short-term forecast for BTCUSD, XRPUSD and ETHUSD 23.01.2023

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

BTCUSD continues to build the last impulse wave C inside the major actionary wave (W). Wave C consists of five major sub-waves [1]-[2]-[3]-[4]-[5]. The first four parts of this impulse have been completed. Shortly, expect bullish growth in the sub-wave [5]. Impulse C will be completed around the level of 24040.00. At this level, wave [5] will be 76.4% of impulse [3].

Trading plan for BTCUSD today:

Buy 22734.64, Take profit: 24040.00

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 been completed. Now the initial part of wave [Y] is unfolding as a standard zigzag (A)-(B)-(C), as shown in the chart. It is expected to end around the level of 0.557. The first impulse wave (A) will end at 0.464, where it is possible to set the first take profit.

Trading plan for XRPUSD today:

Buy 0.403, Take profit: 0.464

Elliott wave Ethereum analysis

ETHUSD 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. Meanwhile, its middle part, impulse [3], is unfolding. The price will rise in the indicated impulse to the level of 1799.00, and then decline in the correction [4], as shown in the chart. In the current situation, consider opening long trades.

Trading plan for ETHUSD for today:

Buy 1633.95, Take profit: 1799.00

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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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