Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.07.2023

2023.07.20 2023.07.20
Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.07.2023logo

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 has completed the formation of a corrective wave [4] inside impulse C as a double three. Thus, the most recent BTCUSD chart section displays the beginning of growth within the new fifth wave. The price in wave [5] will rise to the level of 32170.00, which is located on the resistance line drawn through the tops B, W, and (X).

Trading plan for BTCUSD today:

Buy 29960.34, Take profit: 32170.00

Elliott wave Ripple analysis

Ripple continues to form the final wave [Z] of a large triple zigzag. Wave [Z] is unfolding as a standard zigzag. The last impulse sub-wave (C) is required for its completion. Sub-waves 1-2-3 have been completed inside the impulse (C). Correction 4 ended as a double three with a truncated wave [Y]. Thus, now the price may rise in the final sub-wave 5. It is expected to end at the level of 0.933. This is the previous high marked by sub-wave 3.

Trading plan for XRPUSD today:

Buy 0.828, Take profit: 0.933

Elliott wave Ethereum analysis

ETHUSD correction is over. Wave (4) serves as an A-B-C zigzag. Then the price started to move up in the initial part of the impulse (5). At the moment, the first two small sub-waves 1 and 2 have already been completed. Shortly expect continued growth in the remaining three parts of the impulse (5) toward the level of 2132.50.

Trading plan for ETHUSD for today:

Buy 1895.37, Take profit: 2132.50

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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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