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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (30 October 2020)

2020-10-30

2020-10-30

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 30.10.2020Roman 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.

After a slight decline, the BTCUSD price will continue to rise within the impulse wave [5].

The article covers the following subjects:

Elliott wave Bitcoin analysis

The zigzag-like linking wave [X] is developing. At the end of September 2020, a flat corrective wave B was built, which took the shape of a contracting triangle [A]-[B]-[C]-[D]-[E]. This was followed by a bullish impulse C, consisting of sub-waves [1]-[2]-[3]-[4]-[5]. Most likely, the final impulse wave © of the corrective wave [4] is developing, therefore, after it is completed, wave [5] is expected to rise to the level of 15200.00.

Trading plan for [BTCUSD][1] today:

Buy 13571.25, TP 15200.00

Elliott wave Ripple analysis

The downward zigzag A-B-C is developing on the XRPUSD chart, where wave A is a bearish impulse, which was completed at the end of September 2020. Wave B is a triple zigzag correction that is still developing. The final wave [Z] is developing, it is a double zigzag. Possibly, the downward linking wave (x) has come been completed. In the coming trading days, wave (y) could rise to the level of 0.273.

Trading plan for [XRPUSD][2] today:

Buy 0.242, TP 0.273

Elliott wave Ethereum analysis

After the downward impulse wave A was completed in early September this year, we saw the corrective wave B developing, it looks like a double zigzag [W]-[X]-[Y]. The first two parts of this zigzag are fully completed, and now the final zigzag [Y] is developing, it consists of sub-waves (A)-(B)-©. As part of the impulse wave ©, the correction [4], which is a triple zigzag, has been completed. At the moment we see the first part of wave [5] which is expected to rise to the level of 443.00.

Trading plan for  [ETHUSD][3] today:

Buy 386.64, TP 443.00

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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-30102020&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-30102020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus