Logo

Posts

Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (19 October 2020)

2020-10-19

2020-10-19

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 19.10.2020Roman 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.

At the moment, all the major cryptocurrency pairs continue rising in the final fifth wave. Thus, I recommend looking for longs.

The article covers the following subjects:

Elliott wave Bitcoin analysis

Bitcoin continues forming the final wave (Y) of the double zigzag. It is composed of sub-waves A-B-C. At the moment, we see the last bullish wave C forming which take the form of a five-wave impulse consisting of sub- waves [1]-[2]-[3]-[4]-[5]. There are fully formed sub-waves [1]-[2]-[3]-[4]. The final wave [5] has recently started developing. Most likely, the growth will continue to the level of 12062. This is the maximum which was set by the upward corrective wave (B).

Trading plan for [BTCUSD][1] today:

Buy 11444.25, TP 12062.00

Elliott wave Ripple analysis

In the last section of the chart, we see corrective wave B forming, which is part of the descending triangle A-B-C. Wave B takes the form of a simple zigzag [a]-[b]-[c]. An impulse wave [c] is currently developing. Its corrective wave (4) seems to have completed its pattern; it is a double three. In the near future, we will see the price rise in wave (5) to the level of 0.260. At this level, the magnitude of the entire correction B will be 38.2% along the Fibonacci lines from the bearish impulse A.

Trading plan for [XRPUSD][2] today:

Buy 0.240, TP 0.260

Elliott wave Ethereum analysis

ETHUSD continues to build a downtrend, which takes the form of a zigzag A-B-C. Corrective wave B, which has an extended structure of a double zigzag [W]-[X]-[Y], has not yet been fully completed. Now wave [Y] is forming as the last part part of the indicated figure - bullish impulse ©. Most likely, in the short term, the market will move up in wave 5 to the level of 394.20, which is the previous high marked by wave [W].

Trading plan  [ETHUSD][3] today:

Buy 372.88, TP 394.20

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-19102020&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-19102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus