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Wave analysis for

July 27, 2020

July 27, 2020

Weekly Elliott wave analysis and forecast for cryptocurrenciesRoman Onegin

Forecast for BTCUSD, LTCUSD, ETHUSD, EOSUSD, XRPUSD pairs

Elliott wave analysis for [BTCUSD][1]

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**![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave

analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][2]**

In the daily chart of BTCUSD, we see the market’s fast growth in the linking wave [X] which is part of the global double zigzag [W]-[X]-[Y]. The linking wave [X] is a double zigzag too, of a smaller degree. The ultimate zigzag (Y) , which consists of sub-waves A-B-C, is forming at the moment. Let’s have a detailed look at the chart on a smaller time frame.

![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][3]

We see the first part of an ascending zigzag - impulse wave A - forming at the moment. This wave includes sub-waves [1]-[2]-[3]-[4], where sideways correction [4] formed as a contracting horizontal triangle. The final bullish impulse [5] is developing at the moment. It may be completed at around 11,200. At that level, the size of wave 5 will be 61.8% of the previous impulse 3. The probability of reaching this ratio is high. So, we may see a price growth this trading week.

Elliott wave analysis for [ETHUSD][4]

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![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][5]

A big triple zigzag [W]-[X]-[Y]-[X]-[Z] is forming here. We see an ascending linking wave [X] forming in the last segment of the chart. It’s a double zigzag which consists of sub-waves (W)-(X)-(Y). They are simple zigzags.  Wave A of (Y) is forming now as a 5-wave impulse, by its inner structure. Let’s have a look at the H8 time frame chart.

![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][6]

We see an ascending impulse wave A forming. It consists of sub-waves [1]-[2]-[3]-[4]-[5]. A sideways corrective movement has developed in wave [4] recently, which formed as a triple three pattern (w)-(x)-(y)-(xx)-(z). Now we see a powerful impulse [5]. A slight decline may occur in correction (4) this week; then the pair may grow in the ultimate wave (5) to a level of 360.00.

Elliott wave analysis for ****[ LTCUSD][7]

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![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][8]

LTCUSD continues forming a descending triple zigzag [W]-[X]-[Y]-[X]-[Z]. Four parts of this pattern have been fully completed. Wave (Z) is forming now. It’s a simple zigzag and consists of three main sub-waves (A)-(B)-©. A bearish impulse wave (A) has been completed and it has included sub-waves 1-2-3-4-5. Now we are in a corrective wave (B). Let’s have a closer look at this correction.![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][9]

The ascending corrective wave (B) consists of sub-waves A-B-C. We see an impulse wave A and a fully-formed sideways flat - correction B - in the form of a triple three pattern. The first part of an ascending impulse wave C is developing at the moment. So, the market is expected to rise to 83.00 this trading week, as shown in the chart.

Elliott wave analysis for ****[ EOSUSD][10]

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![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][11]

A global corrective wave B continues forming as a descending triple zigzag. The first three parts of this pattern have fully formed. Now the market is growing in linking wave [X]. It’s a simple zigzag marked with waves (A)-(B)-©. The impulse wave (A) and correction  (B) look fully formed. Wave © is still forming. Let’s have a closer look at the final segment of the chart.![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][12]

We see that once the corrective movement in wave (B) finished, the market started growing and forming the ultimate impulse wave ©. We may see the growth going on in sub-waves 3-4-5 to a level of 4.40 located on a resistance line.

Wave analysis for [XRPUSD][13]

###

**![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave

analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][14]**

Like in the past weeks, XRPUSD is forming a large triple zigzag [W]-[X]-[Y]-[X]-[Z]. A descending wave [Y] has recently formed as a double zigzag inside that triple zigzag; then an ascending linking wave [X] started developing in the form of a simple zigzag (A)-(B)-©. Let’s examine its structure in detail on the H8 time frame.

![LiteForex: Weekly forecast for cryptocurrencies Elliott Wave analysis for Bitcoin, Ripple, Ethereum, Litecoin and EOS][15]

An ascending impulse wave (A) has formed in the above mentioned zigzag (A)-(B)-©; then a descending corrective wave (B) formed as a bearish double zigzag. The first part of the ultimate impulse wave © is developing at the moment. The market is supposed to grow in sub-waves 3-4-5 to a level of 0.281 located on a resistance line.

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Price chart of BTCUSD in real time mode

![Weekly Elliott wave analysis and forecast for cryptocurrencies][18]

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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  1. my.liteforex.com/trading/chart?symbol=BTCUSD
  2. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/BTCUSDDaily.png?w=30&s=f59fb18632c3a1273bf0d6ffd0caa8e0
  3. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/BTCUSDH8.png?w=30&s=a5506e7682b72199fadf663d4261beca
  4. my.liteforex.com/trading/chart?symbol=ETHUSD
  5. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/ETHUSDDaily.png?w=30&s=4ab38d782b99f4a264fd2783a25f387b
  6. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/ETHUSDH8.png?w=30&s=a615948d2f03348935c618ba9031750e
  7. my.liteforex.com/trading/chart?symbol=LTCUSD
  8. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/LTCUSDDaily.png?w=30&s=a227ad8f738143018708316a21df945e
  9. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/LTCUSDH8.png?w=30&s=2b430a2a141965ec627cb7848247d509
  10. my.liteforex.com/trading/chart?symbol=EOSUSD
  11. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/EOSUSDDaily.png?w=30&s=8fe90a14608cd7bdf14afcffe85780c3
  12. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/EOSUSDH8.png?w=30&s=4fd548c8ba1f82fb37574a724b033ade
  13. my.liteforex.com/trading/chart?symbol=XRPUSD&returnUrl=true
  14. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/XRPUSDDaily.png?w=30&s=a25827786691e546faf2065c951aa77e
  15. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/27-07-2020X/XRPUSDH8.png?w=30&s=7efbd5a53d0700ca690d94e1560aaf59
  16. my.liteforex.com/?category=analysts-opinions&slug=weekly-elliott-wave-analysis-and-forecast-for-cryptocurrencies-2020-07-27&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
  17. my.liteforex.com/deposit/?category=analysts-opinions&slug=weekly-elliott-wave-analysis-and-forecast-for-cryptocurrencies-2020-07-27&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus
  18. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/1-elliott-waves-weekly-forecast-for-BTCusd-ethusd-ltcusd-eosusd-xrpusd_1000x545.jpg?q=75&w=1000&s=1480cfce2406c81b57be8a77076342f1