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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (September 30 2020)

2020-09-30

2020-09-30

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 30.09.2020Roman 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 has started forming the final impulse wave within a zigzag of a greater degree currently unfolding. Therefore, the price should be declining, and one could enter sell trades.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the upward zigzag A-B-C. The impulse wave A has completed. The price is now declining in the corrective wave B. The B correction must be unfolding as a double zigzag [W]-[X]-[Y]. The first two parts of this pattern have completed, and the market is running down in wave [Y] that is composed of three sub-waves (A)-(B)-©. After the bullish corrective wave (B) finished, the bear impulse © has been forming. In the near future, the cryptocurrency pair should continue declining to a level below 10107, which is the previous low.

Trading plan for [BTCUSD][1] today:

Sell 10789.00, TP 10107.00

Elliott wave Ripple analysis

The Ripple price is forming the descending double zigzag (W)-(X)-(Y). Wave (W) is a simple bear zigzag. The linking wave (X) is a triple combination of zigzags. Wave (Y) has just started forming and could complete as a standard zigzag, like the (W) wave. The impulse wave A and the corrective wave B have completed. The price should be declining to a level below the previous low made by the A wave, level 0.218.

Trading plan for [XRPUSD][2] today

Sell 0.240, TP 0.218

Elliott wave Ethereum analysis

The ETHUSD is currently forming the down simple zigzag A-B-C, which started in early September. The bear impulse wave A has finished, and the bullish correction B has completed as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. There is now forming the beginning of the new bear impulse. The first two legs, impulse [1] and a zigzag-shaped correction [2] have finished. In the next few days, the Ethereum price should be moving down in the new down wave to a level below the previous low.

Trading plan  [ETHUSD][3] today

Sell 355.88, TP 311.21

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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-30092020&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-30092020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus