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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 21 2020)

2020-09-21

2020-09-21

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 21.09.2020Roman 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 up waves. The Bitcoin and the Ripple are rising in the bullish impulses. The Ethereum is developing the zigzag-shaped motive wave [Z]. So, one could enter buy trades on all the three cryptocurrency pairs.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin market is moving in the corrective down wave. There is likely to be forming the bearish double zigzag. Wave [W] must have completed as a simple zigzag (A)-(B)-©. After the impulse wave © ended, which sent the price down, the market has started rising in the linking wave [X]. Wave [X} is unfolding as a zigzag, where the sub-waves (A) and (B) have completed, and the © impulse is about to finish soon. The first four legs of the © impulse have completed, so the price should be rising in the final wave 5 to a level of 11480. At this level, the size of the wave [X] will reach 61.8% Fibonacci retracement of the [W] wave.

Trading plan for [BTCUSD][1] today

Buy 10958.75, TP 11480.00

Elliott wave Ripple analysis

The Ripple is forming the corrective down wave as a double zigzag. Waves A-B-C have completed in the (W) wave, which is a simple zigzag. There is now unfolding the linking wave (X) as a triple zigzag. There should have completed the sub-waves W-X-Y-XX, and the Z wave has just started forming. In the next few weeks, the price should be rising in the Z wave towards the level of 0.263.

Trading plan for [XRPUSD][2] today

Buy 0.245, TP 0.263

Elliott wave Ethereum analysis

The ETHUSD market continues forming the simple descending zigzag A-B-C, where the bear wave A has completed as a five-wave impulse. The price is now rising in the corrective wave B that is unfolding as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The second linking wave [X] seems to have finished, and there is now developing the beginning of the final wave [Z]. The entire correction B should end at a level of around 400.00.

Trading plan [ETHUSD][3] today

Buy 373.42, TP 400.00

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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-21092020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
  5. my.liteforex.com/deposit/?category=analysts-opinions&slug=short-term-forecast-for-BTCusd-xrpusd-and-ethusd-21092020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus