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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (October 9 2020)

2020-10-09

2020-10-09

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.10.2020Roman 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 are forming the bullish impulse sub-waves of a smaller degree, which are half-complete. Therefore, one could enter long trades on the Bitcoin, Ripple, Ethereum.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the bullish double zigzag, with the final wave (Y) developing as a double combination inside. The sub-waves W and X have completed, the final wave Y is still unfolding. It is composed of three motive sub-waves [a]-[b]-[c]. At the time of writing, the impulse wave [c] has been half-complete, so, the price should continue rising in wave [c] towards level 11315.

Trading plan for [BTCUSD][1] today:

Buy 10639.75, TP 11315.00

Elliott wave Ripple analysis

The XRPUSD market continues forming the simple down zigzag A-B-C. Wave A has completed as a five-wave impulse [1]-[2]-[3]-[4]-[5]. There is now developing the bullish correction B as a standard zigzag [a]-[b]-[c]. The upward impulse wave [c] should continue rising to a level of 0.266, it is the final leg of the zigzag.

Trading plan for [XRPUSD][2] today:

Buy 0.250, TP 0.266

Elliott wave Ethereum analysis

There is now forming the final impulse wave that is a part of the down zigzag A-B-C. The bearish impulse wave [1] finished, and the market is now rising in the corrective wave [2]. Correction [2] is composed of the sub-waves (A)-(B)-©. The first two legs of the zigzag look complete, so the ETHUSD market should be rising in the final wave © towards the level of 374.61.

Trading plan  [ETHUSD][3] today:

Buy 348.82, TP 374.61

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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-09102020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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