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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 29 2020)

2020-09-29

2020-09-29

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 29.09.2020Roman 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.

Bitcoin, Ethereum, and Ripple must have completed corrective waves and started new downtrends. We shall monitor the cryptocurrency market.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the down corrective wave B that started in August 2020. The B correction is likely to complete as a double zigzag [W]-[X]-[Y], where the sub-waves [W] and [X] have completed, the market is now going down in the final zigzag-shaped wave [Y]. The corrective wave (B) of [Y] must have finished, and the impulse wave © is now unfolding. The market should be declining to a level below the previous low made by wave (A).

Trading plan for [BTCUSD][1] today:

Sell 10692.00, TP 10107.00

Elliott wave Ripple analysis

The XRPUSD market continues declining in the corrective wave [Z] that is likely to finish as a double down zigzag. The sub-waves (W) and (X) have completed. Wave (W) is a simple zigzag, wave (X) is a triple zigzag. There is now unfolding a new bear zigzag, with the bullish correction B completed inside. The Ripple price should soon start declining to a level below the previous low made by wave A.

Trading plan for [XRPUSD][2] today

Sell 0.241, TP 0.218

Elliott wave Ethereum analysis

The market is now moving in the downward zigzag A-B-C. The impulse wave A has completed, and the corrective wave B has finished as a triple zigzag. The market is now following the beginning of the new bear impulse, with impulse [1] and correction [2] completed within. The market could be declining to a level below the previous low made by wave A, which is below level 311.21.

Trading plan  [ETHUSD][3] today

Sell 352.35, TP 311.21

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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-29092020&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-29092020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus