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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (4 November 2020)

2020-11-04

2020-11-04

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 04.11.2020Roman 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 forming the final sub-waves of the corrective patterns. Both cryptocurrencies should be rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the upward impulse wave C that may conclude the linking up wave [X], which is a double zigzag. Within the impulse wave C, there have completed impulses [1]-[3] and corrective waves [2]-[4]. Correction [4] is a double zigzag. Wave [5] has just started developing, it will conclude the C wave. Therefore, the price should be rising in wave [5] to a level of 15200.00. It is relevant to buy in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 13875.25, TP 15200.00

Elliott wave Ripple analysis

The XRPUSD market is forming the corrective wave B as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The fourth leg of this pattern, wave [X] may have completed. Wave [X] is a triple combination. There is now unfolding the first element of the final wave [Z]. It should run up to level 0.263, which is the previous high made by wave [Y]. Under the current conditions, one could enter buy trades.

Trading plan for [XRPUSD][2] today:

Buy 0.237, TP 0.263

Elliott wave Ethereum analysis

The ETHUSD market is forming the corrective wave B that is composed of the sub-waves [W]-[X]-[Y]. There is now forming the bullish wave [Y] as a triple zigzag. Within the [Y] wave, the second linking wave (xx) has finished as a triple zigzag w-x-y-xx-z. The market should be following the final motive wave (z) up to a level of 423.00. Next, the market could turn down and start declining.

Trading plan for  [ETHUSD][3] today:

Buy 384.53, TP 423.00

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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-03112020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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