Logo

Posts

Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (27 October 2020)

2020-10-27

2020-10-27

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 27.10.2020Roman 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.

Bitcoin may soon complete the bullish impulse wave [3], then the market will experience a correction. Continue watching the cryptocurrency pair.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the last section of the chart, we see a bullish impulse wave C developing, it consists of sub-waves [1]-[2]-[3]-[4]-[5]. An impulse wave [3] is now developing. At the moment, sub-waves (1)-(2)-(3)-(4) look fully completed, and wave (5) has just begun to form. In the near future, bitcoin may rise to the level of 13760, where the final part of the impulse [3] will be located, after that I expect a slight corrective decline in wave [4], as shown in the chart.

Trading plan for [BTCUSD][1] today:

Buy 13120.25, TP 13760.00

Elliott wave Ripple analysis

An upward corrective wave B is developing. It is a triple zigzag consisting of sub-waves [W]-[X]-[Y]-[X]-[Z]. The final part of this zigzag, wave [Z], may take the form of a double combination. Now the price is going down in the last impulse from the zigzag linking wave (x). In the near future, I expect the decline to be completed, then the actionary wave (y) may rise towards the level of 0.273. Consider opening longs.

Trading plan for [XRPUSD][2] today:

Buy 0.248, TP 0.273

Elliott wave Ethereum analysis

Within the downward simple zigzag, corrective wave B is developing, it takes the form of a double zigzag [W]-[X]-[Y], where sub-waves [W] and [X] are already fully completed and wave [Y] is not yet completed. It is longer than the first two sub-waves and has a simple zigzag structure (A)-(B)-©. Perhaps the corrective wave [4] which is part of the bullish impulse 5 of ©, has been completed - this is a signal for a rise in wave [5]. It is likely that the cryptocurrency pair will reach the level of 443.00

Trading plan for  [ETHUSD][3] today:

Buy 392.85, TP 443.00

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-27102020&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-27102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus