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I have prepared a medium-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ethereum, Litecoin, EOS, and Ripple. I offer trading signals for each cryptocurrency pair.

The Bitcoin market is forming a bullish impulse. The EOS has started forming the final leg of the triple zigzag. The Ethereum, Litecoin, and Ripple are forming the final impulse waves of the simple zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

Bitcoin continues forming the global upward impulse wave. It is composed of five sub-waves 1-2-3-4-5. When the corrective wave 4, composed of the sub-waves [W]-[X]-[Y], the market has started rising in the bullish impulse wave 5. Wave 5, like the main trend, is an impulse. Let us explore the most recent chart section in more detail in the eight-hour timeframe.

                                                                                                                                        

Four out five sub-waves have completed with wave 5. There is currently forming the final wave (5) of [5]. The upward impulse wave 3 has recently completed, and there is now forming the flat corrective wave 4 as a contracting triangle. The sub-waves [c]-[d]-[e] of this triangle should be forming soon. Next, the price will continue rising in wave 5 up to a level above the previous high of 42000.00, made by wave 3, towards a level of 50000.00.

Trading plan for BTCUSD for the week:

Buy 35331.00, TP 42000.00


Elliott wave Ethereum analysis

The ETHUSD market is forming a bullish zigzag composed of three large sub-waves A-B-C. The chart displays the final section of impulse wave A, and the structure of the corrective wave B that is a bearish triple zigzag. The second impulse wave C has not yet completed. There is now forming the final leg of the C wave, impulse [5]. Let us study its structure in the H8 hour timeframe.

Sub-waves (1)-(2)-(3)-(4) have completed within impulse [5]. The price is rising in the final impulse wave (5). Wave (5) has also completed four elements out of five. Therefore, the price should be rising in sub-wave 5 to a level of 1450.00, where the entire bullish trend should end. So, the market should be running up in wave 5 in the near future.

Trading plan ETHUSD for the week:

Buy 1198.59, TP 1450.00


Elliott wave Litecoin analysis

The LTCUSD market is forming a bullish standard zigzag A-B-C. In March 2020, the market completed forming the corrective wave B as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. Next, the price started rising in the upward impulse wave. Impulse [3] has recently finished, and there is forming the corrective wave [4]. Let us explore this chart section in more detail in a shorter timeframe.

After the bullish impulse [3] completed, the price crashed. The market formed wave (A), and the corrective wave (B) has completed by half. The market should continue rising to a level of 157.00, where wave (B) will be 61.8% of the (A) impulse. Next, the cryptocurrency pair will be declining in the impulse wave (C) to a level of 115.00. Level 115.5 is a little lower than the previous low. An approximate trajectory of the future price movement is outlined in the chart.

Trading plan for LTCUSD for the week:

Buy 140.27, TP 157.00


Elliott wave EOS analysis

The EOSUSD market continues forming the bearish triple zigzag, composed of the sub-waves [W]-[X]-[Y]-[X]-[Z]. From February till December 2020, the upward linking wave [X] was forming. The [X] wave is a triple…



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