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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (October 1 2020)

2020-10-01

2020-10-01

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.10.2020Roman 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.

Cryptocurrency pairs continue forming downtrends. It is relevant to enter sell trades for Bitcoin, Ethereum, and Ripple.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the two-hour timeframe, there completed the impulse wave A that is the beginning of the bullish zigzag currently forming. There is forming the down corrective wave as a double zigzag [W]-[X]-[Y]. The bear wave [W] and the linking wave [X] have completed. There is now unfolding the final zigzag [Y]. The first two legs, the sub-waves (A) and (B) look complete. Therefore, the market should be going down to the level below the previous low made by wave (A), which is below 10107.

Trading plan for [BTCUSD][1] today:

Sell 10805.50, TP 10107.00

Elliott wave Ripple analysis

There is now forming the final corrective wave (Y) that is an element of the double zigzag (W)-(X)-(Y). In the most recent chart section, there have completed sub-waves A and B. A is an impulse, B is a zigzag. In the near future, the market should be declining in the new impulse wave below level 0.218. This is the previous low made by wave A.

Trading plan for [XRPUSD][2] today

Sell 0.241, TP 0.218

Elliott wave Ethereum analysis

There is now forming the simple down zigzag that has started forming after the large wave (Y) completed. After the bear impulse wave A finished, there has formed the bullish correction B that is a triple zigzag. There is now unfolding the final impulse wave. The first two legs, sub-waves [1] and [2] have finished within the impulse. Therefore the price should be declining in the impulse wave [3] to a level below 311.21, which is the previous low.

Trading plan  [ETHUSD][3] today

Sell 361.45, 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-01102020&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-01102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus