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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (12 November 2020)

2020-11-12

2020-11-12

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.11.2020Roman 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 BTCUSD and ETHUSD market situations are similar. The markets have recently completed corrective sub-waves as triangles. The bullish impulses are currently developing. A detailed market description is below.

The article covers the following subjects:

Elliott wave Bitcoin analysis

There continues developing the upward impulse wave C that is the part of a larger zigzag. The sub-waves [1]-[2]-[3]-[4] have completed within wave C. There is now forming the bullish wave [5] as a simple five-wave impulse. The fourth wave of this impulse, correction (4), has finished as a contracting triangle. The market should be rising in wave (5) towards the level of 16700.00.

Trading plan for [BTCUSD][1] today:

Buy 15675.50, TP 16700.00

Elliott wave Ripple analysis

The XRPUSD market is forming the upward zigzag A-B-C, where the first two legs have completed. Wave A is a five-wave impulse, corrective wave B is a triple zigzag. Impulse wave C is still unfolding. There is now forming the final wave [5], with four parts out of five completed within. Therefore, the market should be rising in the final wave (5) to a level of 0.272. At this level, the entire bullish correction (B) will reach 50% Fibonacci of the (A) impulse.

Trading plan for [XRPUSD][2] today:

Buy 0.255, TP 0.272

Elliott wave Ethereum analysis

The ETHUSD market, like the BTCUSD, is rising in the impulse wave C. The final leg of the C wave is currently unfolding, it is wave [5]. The sideways corrective wave (4) has finished within impulse [5] as a contracting triangle. The price is now rising in wave (5). Therefore, the Ethereum price should be rising to a level of 507.00. One could enter purchases in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 458.29, TP 507.00

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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-12112020&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-12112020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus