Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 05.01.2024

Dear readers,

Here's my short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.

Elliott Wave analysis for Bitcoin

Supposedly, Bitcoin has finished forming the linking wave X that looks like a zigzag [A]-[B]-[C]. The triangle correction (4) is formed as part of the ultimate impulse wave [C]. The price could be declining in a new bearish wave that may form as an impulse. Its first part, subwave [1], is currently unfolding. It may end near the low at 40,733.00 marked by subwave (3).

Trading plan for BTCUSD for today:

Sell 43,673.74, Take profit: 40,733.00

Elliott Wave analysis… Read full author’s opinion and review in blog of #LiteFinance