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Elliott wave cryptocurrency forecast today. Elliott wave analysis Bitcoin, Ripple, Ethereum

August 12, 2020

August 12, 2020

Elliott wave daily forecast for Bitcoin, Ripple and EthereumRoman Onegin

Elliott wave forecast for BTCUSD, ETHUSD, XRPUSD for today

Elliott wave[BTCUSD][1] analysis

![LiteForex: Elliott wave cryptocurrency forecast today. Elliott wave analysis Bitcoin, Ripple, Ethereum][2]

In the upward impulse wave currently unfolding, there is forming a long corrective wave (4). It is developing as a zigzag A-B-C, where A is an impulse, B is a triple zigzag. Wave C is also a five-wave impulse that hasn’t yet completed. The market should be moving down in the sub-waves [3]-[4]-[5] to a level of 10516.68, as it is outlined in the chart. This level is the previous low made by the bearish impulse wave A.

Elliott wave[XRPUSD][3] analysis

![LiteForex: Elliott wave cryptocurrency forecast today. Elliott wave analysis Bitcoin, Ripple, Ethereum][4]

The XRPUSD market continues moving in the uptrend. The chart displays an impulse wave that is composed of the sub-waves 1-2-3-4-5. There have completed impulses 1 and 3, and correction 2, which is a double zigzag. The market is now forming correction 4 that is likely to complete as a double three [w]-[x]-[y]. In the near future, the price should be declining in the final zigzag (y) to a level of 0.252. When the corrective movement ends, the market could be rising.

Elliott wave[ETHUSD][5] analysis

![LiteForex: Elliott wave cryptocurrency forecast today. Elliott wave analysis Bitcoin, Ripple, Ethereum][6]

The ETHUSD market is about to finish the corrective wave (4) within the bullish impulse [5]. It signals that the market should continue rising in the final wave (5). Correction (4) has completed as a horizontal contracting triangle a-b-c-d-e. Therefore, the price should be rising next in wave (5) to a level of 420.00. After that, there should start a new downtrend.

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![Elliott wave daily forecast for Bitcoin, Ripple and Ethereum][9]

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/12-08-2020/BTCUSDH2.png?w=30&s=c004381f724f5f5fcb869476957f41a9
  3. my.liteforex.com/trading/chart?symbol=XRPUSD
  4. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/12-08-2020/XRPUSDH2.png?w=30&s=06bda0f4a369b1108ceeea71742ebca8
  5. my.liteforex.com/trading/chart?symbol=ETHUSD
  6. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/12-08-2020/ETHUSDH2.png?w=30&s=40d910ec46c4c6c68ca3440c656d7c77
  7. my.liteforex.com/?category=analysts-opinions&slug=elliott-wave-daily-forecast-for-bitcoin-ripple-and-Ethereum-2020-08-12&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
  8. my.liteforex.com/deposit/?category=analysts-opinions&slug=elliott-wave-daily-forecast-for-bitcoin-ripple-and-Ethereum-2020-08-12&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus
  9. cdn.liteforex.com/cache/uploads/blog_post/wave-analysis-crypto/12-08-2020/BTC-eth-xrp-12-08-2020-wave-analysis.jpg?q=75&w=1000&s=0d6211bf7b2017e171d795db5dce2892