Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 18.01.2024

Dear readers,

I've prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.

Elliott Wave analysis for Bitcoin

Supposedly, Bitcoin has finished forming a large linking wave X, shaped as a regular zigzag [A]-[B]-[C]. The first part of a bearish trend might be unfolding now as an impulse (1)-(2)-(3)-(4)-(5). The first subwave (1) could have formed already, and a corrective upward move might have started in subwave (2). Wave (2) can be 61.8% of wave (1) and end near the level of 46,000.00.

Trading plan for BTCUSD for today:

Buy 42,581.36, Take profit: 46,000.00

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