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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (11 November 2020)

2020-11-11

2020-11-11

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.11.2020Roman 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.

The major cryptocurrencies have finished corrective waves and started rising in bullish impulses. So, one could enter long trades on Bitcoin, Ripple, and Ethereum.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD continues forming the upward zigzag composed of the sub-waves A-B-C. Wave A is not shown in the chart. Wave B is a contracting horizontal triangle. After wave B ended, the market has started rising in the new bullish impulse C that is composed of the sub-waves [1]-[2]-[3]-[4]-[5]. The corrective wave (4) has completed as a triangle, and the price could continue rising in wave (5) towards a level of 16700.00. So, one could enter long positions under the current conditions.

Trading plan for [BTCUSD][1] today:

Buy 15375.50, TP 16700.00

Elliott wave Ripple analysis

After the large bearish impulse (A) finished, the market has started rising the (B) correction, wich is a zigzag A-B-C. Wave A of this zigzag is a leading diagonal. Wave B is a triple zigzag, while the C wave is a simple bullish impulse. The final leg of the [C] impulse has started, it is wave [5]. Therefore, the market should be rising in this impulse towards a level of 0.272. At this level, the entire correction (B) will be 50% of the bear impulse (A). SO, one could enter purchases.

Trading plan for [XRPUSD][2] today:

Buy 0.254, TP 0.272

Elliott wave Ethereum analysis

The ETHUSD has finished the corrective wave B. Next, the market has started rising in the new bullish impulse C, composed of the sub-waves [1]-[2]-[3]-[4]-[5]. The first four legs of this impulse have completed. Wave [4] is a triple zigzag. Impulse [5] is still developing. The Ethereum price should be rising in the final part of impulse [5], which is a short bullish trend (5), towards a level of 507.00. Therefore, it is relevant to open long positions.

Trading plan for  [ETHUSD][3] today:

Buy 458.21, 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-11112020&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-11112020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus