Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (30 June 2021)
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I have prepared a short-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.
All three cryptocurrency pairs covered in the article must have completed forming corrective sub-waves, so the prices should start declining in the bearish impulse waves.
The article covers the following subjects:
Elliott wave Bitcoin analysis
It is clear from the most recent chart section that the BTCUSD rate is falling in the bearish wave (5). Wave (5) is unfolding as a regular impulse 1-2-3-4-5; it is concluding the large impulse [A]. Corrective wave 4 must have completed as a flat [A]-[B]-[C]. If the assumption is correct, the Bitcoin price should start declining in the final wave 5 to a level of 28750.00. This level is marked by wave 3. One could enter short trades in the current situation.
Trading plan for BTCUSD today:
Sell 35834.00, TP 28750.00
Elliott wave Ripple analysis
The XRPUSD market continues forming a descending zigzag-shaped wave (W), which is the beginning of the global double or triple zigzag. The hourly timeframe displays the final impulse wave C which is about to end soon. The Ripple price should go down to a level of 0.500, following a small wave 5 which should conclude the entire impulse C. After that, there will start a new bullish wave. One could enter short positions in the current situation.
Trading plan for XRPUSD today:
Sell 0.701, TP 0.500
Elliott wave Ethereum analysis
The ETHUSD market continues falling. There is unfolding the final part of the large bearish wave A, sub-wave . The sub-wave  is composed of waves (1)-(2)-(3)-(4)-(5). Corrective wave (4) must have finished as a double zigzag W-X-Y. The Ethereum price should be declining in the final wave (5) to a level of 1700.00, marked by the impulse wave (3). One could enter short positions in the current situation.
Trading plan for ETHUSD today:
Sell 2170.27, TP 1700.00
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Price chart of BTCUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. 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.