Short-term forecast for BTCUSD, XRPUSD and ETHUSD 05.04.2023

2023.04.05 2023.04.05
Short-term forecast for BTCUSD, XRPUSD and ETHUSD 05.04.2023logo

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.

Ethereum is getting closer to the target.

The article covers the following subjects:

Elliott wave Bitcoin analysis

BTCUSD is building a correction (B) as a bearish double zigzag W-X-Y. The first two sub-waves W and X have already been completed. Thus, shortly expect a decline in the final actionary sub-wave Y. Wave Y, like wave W, will be completed as a standard zigzag, as shown in the chart. BTC is expected to decline to the low of 23800.00.

Trading plan for BTCUSD today:

Sell 28544.57, Take profit: 23800.00

Elliott wave Ripple analysis

XRPUSD completed the impulse sub-wave 3 inside the impulse (5) of [C]. Bearish correction 4 will soon be completed as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Soon, after this, expect the price to rise in the last ascending sub-wave 5, approximately to the high of 3. At the level of 0.581, the bullish impulse (5) will be 123.6% of the impulse (3).

Trading plan for XRPUSD today:

Buy  0.505, Take profit: 0.581

Elliott wave Ethereum analysis

The ETHUSD market is building an upward zigzag A-B-C in the long term. The first actionary wave A is currently unfolding as an impulse [1]-[2]-[3]-[4]-[5]. Ethereum will rise to 1955.00, where sub-waves [3] and [5] will be equal. At the specified level, expect the price reversal and a beginning of a new trend.

Trading plan for ETHUSD for today:

Buy 1908.19, Take profit: 1955.00

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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

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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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