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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 24 2020)

2020-09-24

2020-09-24

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.09.2020Roman 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

The BTCUSD is forming the down zigzag A-B-C. The price is declining in the A impulse currently ongoing. One could consider sell positions in the current situation.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin market continues forming the down corrective wave B as a double zigzag [W]-[X]-[Y]. There is now unfolding the bear wave [Y]. It is a simple zigzag (A)-(B)-©. The impulse wave (A) should complete at a level of around 9500. Next, the price could be corrected up in the upward correction (B). After that, the © impulse can draw the price towards level 8000. I recommend entering short positions in the current situation.

Trading plan for [BTCUSD][1] today:

Sell 10299.00, TP 9500.00

Elliott wave Ripple analysis

The current XRPUSD structure is forming the downtrend. There is now developing the double zigzag (W)-(X)-(Y). Wave (W) is a simple zigzag; wave (X) is a triple zigzag. The price is now declining in the bear zigzag A-B-C. Presumably, the impulse wave A will finish at a level of 0.209. Next, the market is to be corrected up in wave B, as it is outlined in the chart.

Trading plan for [XRPUSD][2] today

Sell 0.221, TP 0.209

Elliott wave Ethereum analysis

After the upward wave (Y) finished, there has started a new downtrend. There is forming the simple down zigzag A-B-C, where A is a five-wave impulse, and the B wave is a triple zigzag. After the corrective wave B completed, there finished sub-waves [1] and [2]. There is now developing the impulse wave [3] that is composed of the sub-waves (1)-(2)-(3)-(4)-(5). The price should continue declining to a level of 300.00, where wave (5) of [3] should end.

Trading plan [ETHUSD][3] today

Sell 323.78, TP 300.00

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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-24092020&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-24092020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus