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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 18 2020)

2020-09-18

2020-09-18

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.09.2020Roman 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.

All cryptocurrency pairs are forming upward waves. The Bitcoin and the Ripple are following bullish impulse waves. The Ethereum is developing a zigzag-shaped motive wave [Z]. Therefore, one can consider long trades for all cryptocurrency pairs today.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the down corrective wave. There is currently unfolding the bearish double zigzag, where the down wave [W] has completed. The market is rising in the linking wave [X] that is unfolding as a standard zigzag. After the two sub-waves (A) and (B) completed, the price has started rising in the © impulse. The © impulse should have completed by 4⁄5, so, the price should continue rising in the sub-waves (5) towards a level of 11480, where the linking wave [X] will be 61.8% of wave [W].

Trading plan for [BTCUSD][1] today

Buy 10905.50, TP 11480.00

Elliott wave Ripple analysis

The XRPUSD market is also forming the double down zigzag. The bullish wave (W), composed of the two impulse wave A and C, and the corrective wave B, has completed. The market is now following the linking wave [X], which must complete as a simple zigzag A-B-C. Wave A is a leading diagonal, wave B is a zigzag, the C wave is an impulse that is still unfolding. The Ripple price should be rising in the C impulse towards a level of 0.278, where the (X) wave will be 50% of the (W) zigzag.

Trading plan for [XRPUSD][2] today

Buy 0.250, TP 0.278

Elliott wave Ethereum analysis

After the upward wave (Y) completed, the price has started declining in the new down zigzag. The impulse wave A, which is the beginning of the zigzag, has completed. The market is now rising in the corrective wave B. The B correction is a triple zigzag [W]-[X]-[Y]-[X]-[Z]. This pattern will complete when the final motive wave [Z] ends. It should finish at the level of around 418.00, where the entire B correction will be 61.8% of the A impulse.

Trading plan [ETHUSD][3] today

Buy 386.21, 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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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=short-term-forecast-for-BTCusd-xrpusd-and-ethusd-18092020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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