Hello dear traders! Today’s cryptocurrency forecast for BTC/USD, ETH/USD, XRP/USD.
Wave analysis for BTC/USD
Fig 1: Cryptocurrency forecast for today. BTC/USD wave analysis
The BTC/USD is currently forming an impulse A, which is also the beginning of the A-B-C ascending zigzag. Impulse A consists of five sub-waves [1] – [2] – [3] – [4] – [5]. The initial diagonal [1], bearish double zigzag [2], an upward impulse wave [3] and a downward correctional wave [4] have been formed. The final impulse wave [5], more precisely its fifth part, is in the process of construction at the moment. Most likely, the wave five [5] will be completed somewhere around the area of 11000. During the next trading week, the market may grow within the 3-4-5 sub-waves, as indicated on the chart.
Wave analysis for XRP/USD
Fig 2: Cryptocurrency forecast for today. XRP/USD wave analysis
Let’s take a look at the XRP/USD pair, where we can see the formation of a large bullish zigzag (A)- (B)-(C). The upward impulse wave (A), as well as the downward correctional wave (B), have been completed. Wave (B) took the form of a simple A-B-C zigzag, where A and C are the impulses, and the sideways correction B is the double triplet [w] – [x] – [y]. The market is currently moving within a new uptrend, which means that the initial part of the (C) wave is probably forming at this very moment. The XRP/USD pair has all chances to rise to level 0.236 (the area of the third wave) in the next few days. Level 0.236 is the previous high formed by the impulse (A).
Wave analysis for ETH/USD
Fig 3: Cryptocurrency forecast for today. ETH/USD wave analysis
The simple ascending zigzag A-B-C is currently being formed on the ETH/USD chart. The bullish wave A, consisting of five sub-waves, has been fully completed. The corrective wave B, which is the wave plane of [A] – [B] – [C], also looks finished. Currently, the initial part of the upward impulse is being formed. The first two small sub-waves (1) and (2) of this impulse have been constructed, and now we can observe growth in the third wave. The ETH/USD pair has a good chance of exceeding its previous high, formed by the A wave, – level 226.77.
