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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (October 2 2020)

2020-10-02

2020-10-02

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 02.10.2020Roman 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.

The cryptocurrency pairs should not have finished forming the corrective waves. Therefore, I have altered the previous scenario. The prices for all the cryptocurrency pairs should be rising in a way displayed in the charts. One could enter purchases in the current situation.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market must be forming the upward zigzag A-B-C. The bullish impulse A has finished. There is now unfolding the bearish correction as a double zigzag. When the first zigzag-shaped wave [W] finished within this pattern, the price has started correction in the linking wave [X] that is a double zigzag of a smaller degree. The price could be at the end of wave (Y) which is a simple zigzag A-B-C. The sub-waves A and B have ended, and the C wave is yet developing. Therefore, the market should be going up to a level of 11315.

Trading plan for [BTCUSD][1] today:

Buy 10612.25, TP: 11315

Elliott wave Ripple analysis

The XRPUSD market continues forming the downtrend, which is a double zigzag. When the upward linking wave (X) ended as a triple zigzag, there has started a corrective pattern, which could complete as a simple zigzag. The A impulse has completed, and the B correction is still developing. The price should be rising to a level of 0.252.

Trading plan for [XRPUSD][2] today:

Buy 0.237, TP 0.252

Elliott wave Ethereum analysis

The ETHUSD market is forming the simple zigzag A-B-C. The sub-wave A is a simple impulse, the corrective wave B is a triple upward zigzag. Next, there has started a new downtrend developing as an impulse. Wave [1] has completed, and the price is rising in the corrective wave [2]. Wave [2] should complete as a zigzag (a)-(b)-©, and the final impulse © will end at a level of around 375.00.

Trading plan  [ETHUSD][3] today:

Buy 351.06, TP 375.00

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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-02102020&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-02102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus