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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 22 2020)

2020-09-22

2020-09-22

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 22.09.2020Roman 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.

Bitcoin, Ethereum, and Ripple started forming downtrends. Therefore, it is relevant to enter short trades for each of the three cryptocurrencies.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the two-hour BTCUSD price chart, the market is forming the down corrective wave B as a double zigzag [W]-[X]-[Y]. The upward linking wave [X] is likely to have completed. The market is now declining and forming the final wave [Y]. Wave [Y] is likely to complete as a simple zigzag as well as the sub-waves [W] and [X]. The price should be declining in the impulse wave (A) towards the level of 9500. Next, after a short correction in the (B) wave, the price will continue declining in the © impulse to a level of 8000, as it is outlined in the chart.

Trading plan for [BTCUSD][1] today:

Sell 10464.25, TP 9500.00

Elliott wave Ripple analysis

The upward linking wave (X) is likely to have completed as a triple zigzag W-X-Y-XX-Z. Next, the price has turned down and started declining. The Ripple market must be forming a new down zigzag, namely, its first leg, the A impulse. The impulse wave A should conclude at a level of around 0.209. Next, the markets should start rising in the corrective wave B, as it is outlined in the chart.

Trading plan for [XRPUSD][2] today

Sell 0.230, TP 0.209

Elliott wave Ethereum analysis

The ETHUSD market is forming the down zigzag A-B-C. The A impulse and the bullish correction B have completed. The B correction is a triple zigzag. The market is now at the beginning of the bear impulse wave. After two small sub-waves [1] and [2] have completed, the downtrend continued. The Ethereum price should soon go down below the level of 307.00, which is the previous low made by the A wave.

Trading plan [ETHUSD][3] today

Sell 342.95, TP 307.00

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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-22092020&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-22092020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus