Short-term forecast for BTCUSD, XRPUSD and ETHUSD 25.01.2023

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 develop the actionary wave (W) as a standard A-B-C zigzag. To complete the last impulse wave C, sub-wave (5) is required. The price is expected to rise in this wave to the level of 24040.00. At this level, wave [5] will be 76.4% of wave [3]. After reaching the specified level, wait for the development of a new bearish trend. A possible price movement is indicated in the chart.

Trading plan for BTCUSD today:

Buy 22694.12, Take profit: 24040.00

Elliott wave Ripple analysis

The Ripple market is building wave Y as a double zigzag [W]-[X]-[Y], where sub-waves [W] and [X] have already been completed. The initial part of the final actionary wave [Y], is unfolding as a standard zigzag (A)-(B)-(C), as shown in the chart. The first impulse wave (A) will end at the level of 0.468, then the price may roll back in the correction (B).

Trading plan for XRPUSD today:

Buy 0.403, Take profit: 0.468

Elliott wave Ethereum analysis

ETHUSD is constructing an upward impulse wave C, the final one in an unfolding zigzag (Y). Wave C consists of sub-waves [1]-[2]-[3]-[4]-[5]. Currently, the middle sub-wave [3] is unfolding as an impulse (1)-(2)-(3)-(4)-(5). It is expected to end around the level of 1802.00. Then a price will slightly decrease in the correction [4]. Afterward the sub-wave [5] will start unfolding. A possible price movement is indicated in the chart.

Trading plan for ETHUSD for today:

Buy 1545.64, Take profit: 1802.00

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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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