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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (October 12 2020)

2020-10-12

2020-10-12

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.10.2020Roman 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 BTCUSD is to be rising in the final impulse (5) that has just started. SO, it is relevant tot enter purchases.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming a bear trend. The trend must be unfolding as a double zigzag. After the down zigzag-shaped wave [W] finished, the market has been rising in the linking wave [X] that is also a double zigzag (W)-(X)-(Y). Wave (Y) is about to end soon. The price should be rising in the impulse wave (5) of [c] to a level of 11760.

Trading plan for [BTCUSD][1] today:

Buy 11397.75, TP 11760.00

Elliott wave Ripple analysis

The XRPUSD market continues forming the down simple zigzag A-B-C. In the most recent section of the chart, the impulse wave A has finished, and the price is rising in the corrective wave B that may complete as a simple zigzag. The first two parts of this zigzag have completed, and the impulse wave [c] is yet unfolding. The price should be rising in impulse 5 towards a level of 0.266.

Trading plan for [XRPUSD][2] today:

Buy 0.254, TP 0.266

Elliott wave Ethereum analysis

After the bear impulse wave [1] finished, there has started the bearish corrective wave [2] that is developing as a zigzag (A)-(B)-©. The waves (A) and (B) have finished. Wave (A) is a simple five-waves impulse, the corrective wave (B) is a simple zigzag a-b-c. There is now should finish the motive wave © as an impulse composed of five sub- waves 1-2-3-4-5. The market should be growing in wave © towards a level of 393.00, which is the previous high made by the correction B.

Trading plan  [ETHUSD][3] today:

Buy 373.52, TP 393.00

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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-12102020&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-12102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus