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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (October 14 2020)

2020-10-14

2020-10-14

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 14.10.2020Roman 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 XRPUSD is forming the final leg of the bullish correction. Wave (5) of [c] is an ending diagonal. It will end when wave 5 finishes, so the market should be rising to level 0.266. One could enter purchases.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is now forming the upward linking wave [X]. It is a double zigzag, where the sub-waves (W) and (X) have completed, and the (Y) wave is still unfolding. The (Y) looks like a double zigzag, composed of the sub-waves W-X-Y. Wave Y is about to end soon, as its final impulse wave has completed by 4⁄5. Therefore, the market should be rising in wave (5) towards a level of 11943.67.

Trading plan for [BTCUSD][1] today:

Buy 11448.75, TP 11943.67

Elliott wave Ripple analysis

The current XRPUSD market is following a downtrend. There is likely to be developing a bear zigzag A-B-C. Wave A is a five-wave downward impulse. Corrective wave B is still unfolding as a zigzag [a]-[b]-[c]. The final section of the [c] impulse, wave (5), is an ending diagonal, as wave 4 exceeded wave 1. The market could continue rising in the final wave 5 towards a level of 0.266.

Trading plan for [XRPUSD][2] today:

Buy 0.254, TP 0.266

Elliott wave Ethereum analysis

The ETHUSD market is forming a bear zigzag A-B-C. There is now forming a bullish correction B. It is developing as a double zigzag [W]-[X]-[Y]. The most recent section of the chart displays the final impulse wave ©, which is an element of the zigzag-shaped wave [Y]. The corrective wave 4 has finished within the © impulse. So, the market could be rising in wave 5. The Ethereum price should be growing to a level of 400.37.

Trading plan  [ETHUSD][3] today:

Buy 381.87, TP 400.37

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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-14102020&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-14102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus