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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 17 2020)

2020-09-17

2020-09-17

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.09.2020Roman Onegin

I welcome my readers!

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

The Bitcoin is forming the impulse wave © that hasn’t yet completed, so, it is relevant to enter a long trade. Ripple price is also rising, so, it is relevant to buy XRPUSD.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the double down zigzag, with the first leg, wave [W] completed inside. The Bitcoin price chart is now drawing the upward linking wave [X] that is composed of three sub-waves (A), (B), and ©. The price must be rising now in the bullish impulse wave ©. This impulse should end at level 11480, where the entire linking wave [X] will be 61.8% of the zigzag-shaped wave [W], according to Fibonacci retracements. This ratio is highly likely to be reached.

Trading plan for [BTCUSD][1] today

Buy 11000.00, tp 11480.00

Elliott wave Ripple analysis

The XRPUSD market continues to form the downtrend. There must be developing the double zigzag that has been half-complete. The bear wave (W) has ended as a simple zigzag. Next, the price has started rising in the linking wave (X) that is composed of the sub-waves A-B-C. Wave A is a leading diagonal, corrective wave B is a zigzag; wave C is an impulse that hasn’t yet ended. The price should stop rising around level 0.278, where wave (X) will be 50% of wave (W).

Trading plan for [XRPUSD][2] today

Buy 0.255, tp 0.278

Elliott wave Ethereum analysis

At the most recent section of the ETHUSD chart, there continues forming the simple down zigzag. Within this zigzag, the bearish impulse wave A has finished, and the market is rising in the corrective wave B. Wave B is likely to be unfolding as a bullish triple zigzag, composed of the sub-waves [W]-[X]-[Y]-[X]-[Z]. In the next few days, the corrective wave [Z] could conclude the triple combination at a level of around 418.00. At this level, the B correction will be 61.8% of the A impulse.

Trading plan [ETHUSD][3] today

Buy 378.00, tp 418.00

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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

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  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

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. my.liteforex.com/trading/chart?symbol=XRPUSD
  3. my.liteforex.com/trading/chart?symbol=ETHUSD
  4. my.liteforex.com/?category=analysts-opinions&slug=elliott-wave-daily-forecast-for-bitcoin-ripple-and-Ethereum-2020-09-17&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
  5. my.liteforex.com/deposit/?category=analysts-opinions&slug=elliott-wave-daily-forecast-for-bitcoin-ripple-and-Ethereum-2020-09-17&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus