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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.

Bitcoin and other cryptocurrencies may have continued the bullish trends, so the prices could be rising this week. 

The article covers the following subjects:

Elliott wave Bitcoin analysis

The daily BTCUSD price chart displays the large upward impulse composed of the sub-waves 1-2-3-4-5. After corrective wave 4 completed as a double zigzag, the market has started rising in impulse wave 5. There must be forming the final leg of impulse 5. Let us explore the most recent chart section on the eight-hour timeframe.

              

As it is clear from the most recent chart section, the market is forming the upward impulse wave composed of the sub-waves [1]-[2]-[3]-[4]-[5]. The final leg of the impulse (5) of [5] will conclude the entire pattern. The corrective down wave 4 must have completed as a double zigzag, and there have formed the two first sub-waves of impulse 5, they are small sub-waves (1) and (2). The market should be rising to a level above 42000.00, towards level 50000.00.

Trading plan for BTCUSD for the week:

Buy 33408.50, TP 42000.00


Elliott wave Ethereum analysis

The ETHUSD pair, like during the previous trading weeks, is forming a large upward zigzag A-B-C. The sub-waves A and B have completed. Wave A is an impulse, and wave B is a correction formed as a triple zigzag. Wave C is also an impulse, which is still unfolding. There is now developing the final wave [5] of the C impulse. Let us study the market structure in more detail in the H8 timeframe.

 

The upward impulse [5] is composed of five sub-waves (1)-(2)-(3)-(4)-(5). The four legs out of five have ended. There is unfolding wave (5), driving the price up. The corrective wave 4, composed of the sub-waves [w]-[x]-[y], has recently finished. The price has resumed growing in the final wave 5. The market could be rising to a level of 1670.00, where wave 5 will be equal to wave 3. The price is likely to reach the indicated level.

Trading plan ETHUSD for the week:

Buy 1414.27, TP 1670.00


Elliott wave Litecoin analysis

The LTCUSD pair continues forming the global simple zigzag A-B-C. After the bearish corrective wave B finished as a triple zigzag, the market has turned up and started rising. There is currently forming the fifth leg of the bullish impulse composed of the sub-waves [1]-[2]-[3]-[4]-[5]. Let us study the most recent chart section in a shorter timeframe.

There have completed impulse waves [1] and [3], and corrective waves [2] and [4]. Over the past few days, the corrective wave [4] was forming, and it seems to have ended as a zigzag (A)-(B)-(C). If so, there must be forming the final bullish wave [5]. Therefore, this week, the market should be rising to a level above 185.00, i.e., above the high made by impulse [3].

Trading plan for LTCUSD for the week:

Buy 145.23, TP 185.00


Elliott wave EOS analysis

The EOSUSD market continues forming the global down triple zigzag [W]-[X]-[Y]-[X]-[Z]. The first four legs of the zigzag look complete. There is now forming the final bearish wave [Z], which could end as a simple zigzag (a)-(b)-(c). Let us explore the initial part of the [Z] wave on the eight-hour timeframe.

After linking wave [X] ended as a triple zigzag, the market has started declining in the impulse wave (A), which is the initial element of the bearish zigzag-shaped wave [Z]. Wave (A) has ended, and there is now forming the bullish…



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