Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 06.02.2024

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I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the initial part of a potential impulse. The first wave (1) has completed as an impulse 1-2-3-4-5. A bullish correction (2) is currently developing as a zigzag, with impulse A and correction B completed inside. The Bitcoin price is rising in the C impulse to a level of 45000.00, where wave (2) will be 61.8% of (1).

Trading plan for BTCUSD today:

Buy 42735.34, Take profit: 45000.00

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