Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.04.2023

2023.04.12 2023.04.12
Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.04.2023logo

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.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming an ascending zigzag (A)-(B)-(C). The first impulse (A) is currently unfolding, with the final sub-wave developing inside. Sub-waves [1]-[2]-[3]-[4] have completed in impulse wave 5 of (A). Correction [4] is a contracting triangle. The price is rising in impulse [5]. The Bitcoin price could continue rising to a level of 32078.03, where wave [5] will be 50% of wave [3].

Trading plan for BTCUSD today:

Buy 29956.93, Take profit: 32078.03

Elliott wave Ripple analysis

The XRPUSD market is forming impulse [C], with the final sub-wave (5) developing inside as an impulse 1-2-3-4-5, as outlined in the chart. The Ripple price should continue rising to a level of 0.592, where wave (5) will be 50% of impulse (3). One could enter long trades in the current situation.

Trading plan for XRPUSD today:

Buy  0.504, Take profit: 0.592

Elliott wave Ethereum analysis

The ETHUSD market must have completed the ending diagonal [5], which concluded the impulse wave A. The price is going down in the corrective wave B. The downside target is the low of 1658.81, where correction (4) finished as a double zigzag W-X-Y.

Trading plan for ETHUSD for today:

Sell 1866.17, Take profit: 1658.81

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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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