Logo

Posts

Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (October 6 2020)

2020-10-06

2020-10-06

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 06.10.2020Roman 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.

All cryptocurrency pairs analyzed in the article are forming the bullish corrective sub-waves. The Bitcoin price is to be rising in the impulse wave C to a level of 11315, as the impulse is half-complete as of now.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the upward linking wave [X]. It is developing as a double zigzag (W)-(X)-(Y). The sub-waves (W) and (X) have completed, the (Y) wave is yet unfolding, it is about to end soon. The impulse wave A and the B correction must have completed. In the short run, the price should be rising in C towards a level of 11315. One could enter long positions under the current conditions.

Trading plan for [BTCUSD][1] today:

Buy 10759.25, TP 11315.00

Elliott wave Ripple analysis

The XRPUSD market continues forming the simple down zigzag A-B-C. The impulse wave A has completed, it is composed of the sub-waves [1]-[2]-[3]-[4]-[5]. There is now developing the bullish correction B as a zigzag [a]-[b]-[c]. The impulse wave [a] and the corrective wave [b] have completed, and the market is now following the bullish impulse [c]. Within the [c] impulse. The impulse wave (3) has finished. After a short decline in correction (4), the market could start rising in wave (5) to a level of 0.266.

Trading plan for [XRPUSD][2] today:

Buy 0.256, TP 0.266

Elliott wave Ethereum analysis

At the time of writing, the ETHUSD is forming the corrective wave [2] that is an element of a new downtrend, unfolding as an impulse. Wave [2] is likely to end as a standard zigzag (a)-(b)-©. The market is now forming the final leg of this zigzag, the © impulse. In the short run, the price could be rising in the © impulse to a level of 370.00. One could enter purchases under the current conditions.

Trading plan  [ETHUSD][3] today:

Buy 352.82, TP 370.00

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” :)

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker [here][4]. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while [depositing][5] your trading account.
  • Telegram chat for traders: . We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

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.

Rate this article:

{{value}}

( {{count}} {{title}} )

  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-06102020&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-06102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus