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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (26 October 2020)

2020-10-26

2020-10-26

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 26.10.2020Roman 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.

Ripple and Ethereum are developing the final parts of upward corrections. In the short term, the price is expected to rise to the indicated levels, then new downtrends may develop.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the last part of the chart, we see the construction of an upward impulse wave C, which can complete the large linking wave [X].  The fourth part of the bullish impulse wave [3] is currently under development. In the near future, the corrective movement in wave (4) could be completed, after that, the market may rise in wave (5) to the level of 13760.85. A possible future movement is shown on the chart.

Trading plan for [BTCUSD][1] today:

Buy 13125.25, TP 13760.85

Elliott wave Ripple analysis

Ripple continues to move within the corrective wave B, which is part of a simple downward zigzag. Correction B takes the form of an upward triple zigzag [W]-[X]-[Y]-[X]-[Z]. The actionary sub-waves [W] and [Y], as well as the linking waves [X] and [X] have been fully completed, and the sub-wave [Z] is still developing. Most likely, wave [Z] will be a double zigzag (w)-(x)-(y). In the short term, the cryptocurrency pair is expected to rise in the final wave (y) of [Z] to the level of 0.273.

Trading plan for [XRPUSD][2] today:

Buy 0.255, TP 0.273

Elliott wave Ethereum analysis

Ethereum, like Ripple, is developing a bullish correction B in a simple downward zigzag A-B-C. Corrective wave B here is a double zigzag [W]-[X]-[Y]. The first two parts of this double combination have been fully completed, and now the market is moving upward, building the final wave [Y], which is a zigzag (A)-(B)-©. It seems that the impulse wave © will soon be completed, as its correction [4], which is a double zigzag, has been completed, and now the first part of wave [5] is developing. In the near future, the price is expected to rise to the level of 430.00.

Trading plan for  [ETHUSD][3] today:

Buy 407.81, TP 430.00

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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-26102020&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-26102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus