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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (9 November 2020)

2020-11-09

2020-11-09

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.11.2020Roman 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 legs of the bullish impulse trends. Ripple is forming the final impulse within the upwards corrective wave.

The article covers the following subjects:

Elliott wave Bitcoin analysis

Bitcoin continues forming the upward impulse wave C that is composed of five sub-waves [1]-[2]-[3]-[4]-[5]. The corrective wave [4] has recently completed as a double zigzag (w)-(x)-(y). There is now forming a bullish impulse [5]. The first four elements of wave [5] should have completed, so the price should be rising in wave (5) towards level 16700.00.

Trading plan for [BTCUSD][1] today:

Buy 15427.00, TP 16700.00

Elliott wave Ripple analysis

The XRPUSD market is forming the corrective wave (B) that is an element of the bearish zigzag of a larger degree. The (B) correction is unfolding as a simple zigzag A-B-C, where A is a bullish five-wave impulse, B is a correction completed as a bearish triple zigzag. Wave C is also is an impulse, with the final leg unfolding inside. The market should be rising to a level of 0.272 in the impulse wave [5], where the entire correction (B) will be 50% of the (A) impulse, according to Fibonacci retracements.

Trading plan for [XRPUSD][2] today:

Buy 0.252, TP 0.272

Elliott wave Ethereum analysis

The ETHUSD market is unfolding the bullish impulse composed of five sub- waves [1]-[2]-[3]-[4]-[5]. The corrective wave [4] has recently completed as a triple zigzag. Next, the sub-waves (1)-(2)-(3)-(4) have ended within the bullish impulse [5]. Wave (5) should soon conclude impulse [5]. Therefore, the price should be rising in wave (5) to a level of 507.00.

Trading plan for  [ETHUSD][3] today:

Buy 450.42, TP 507.00

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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-09112020&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-09112020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus