Wave analysis of BTCUSD

The market continues moving within the global downward corrective B wave that started forming in early 2018. This wave is taking the form of a triple descending zigzag [W]-[X]-[Y]-[X]-[Z]. Currently, the final part of the zigzag combination is developing; it is the [Z] wave that is a plain zigzag (A)- (B)-(С). Let’s study the internal structure if the last section in more detail.

The upward correction (B) is taking the form of zigzag A-B-C. After the B correction completely finishes, the market will continue rising in the upward C impulse. Wave C is likely to be half-complete, so the price should continue rising towards the level of the previous high, formed by the A wave. It means that the price is expected to go up towards 4191. Next, after correction (B) completes, the market may reverse start descending.

Wave analysis of ETHUSD

The market continues moving within the long-term downward corrective wave that is a triple zigzag. The descending zigzag-shaped [Y] had been constructing during the entire 2018. After it had been complete, the market started moving within the sideways corrective wave [X]. The wave [X] is highly likely to be taking the form of a plain zigzag (A)-(B)-(C). Let’s analyze the situation in more detail in ETHUSD 4H timeframe.

The wave [X] apparently consists of three elements: (A), (B) and (C). Its final part, the impulse wave (C) is forming now. The market is likely to continue growing within the upward impulse 5 of (C) of [X] in the near future. The next target is at level 159.7. In the current situation, one may open long positions aiming at picking up the movement in wave 5. An approximate trajectory of the future movement is presented in the chart.

Wave analysis of BCHUSD

The market was slowly going down within a triple zigzag during the previous trading months. After the long-term wave [Y] had completed, the sideways correction [X] started emerging; it is taking the form of a plain but long-lasting upward zigzag. Let’s study its internal structure in the H4 timeframe.


The waves (A) and (B) were complete and the market started going up within a new upward wave that is likely to be taking the form of a bullish impulse. The initial part of this impulse is wedge-shaped; it was followed the correction 2 to this wedge. Now, everything is ready for the market to start going up within the new upward impulse wave 3. Therefore, the market may be rising during the trading week.

Wave analysis of EOSUSD

The market continues moving within the downward corrective wave B. Its final part is developing currently. The waves [X] and [Z] are emerging. After a short rise within the correction [X], which is taking the form of bullish zigzag (A)-(B)-(C), the price will continue descending. Let’s see the layout in more detail.


The [X] is likely to be a plain zigzag: (A)-(B)-(C). After the downward correction (B) completed, the market continues rising within the new upward (C) impulse. There have been completed the waves 1-2-3-4. Now the growth continues within impulse 5. The first price target is level 3.38; at this level the size of the (C) wave will be equal to the (A) wave. Since the wave often tend to equality in zigzags, the wave is highly likely to finish at this level. Therefore, the market is expected to be rising during the trading week.

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Wave analysis of major cryptocurrencies for 18/02/2019

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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