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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (17 November 2020)

2020-11-17

2020-11-17

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.11.2020Roman 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 three cryptocurrency pairs analyzed in the article are forming bullish impulses. The prices should be rising to the levels indicated below.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin continues forming the bullish linking wave [X] as a double zigzag (W)-(X)-(Y). There is now forming the final leg of the upward wave (Y), which is a simple zigzag A-B-C, i.e. the C wave is unfolding. Four elements out of five have completed within the C wave. Within the impulse wave [5], the corrective wave (4) has completed and the price is rising in the impulse wave (5). Wave (5) should complete around the level of 17300.00. One could enter long positions.

Trading plan for [BTCUSD][1] today:

Buy 16668.75, TP 17300.00

Elliott wave Ripple analysis

The Ripple market continues forming the upward corrective wave (B) as a simple zigzag A-B-C. Wave A is a leading diagonal [1]-[2]-[3]-[4]-[5], as wave [4] exceeded wave [1]. The down corrective wave B is a triple zigzag. There is now forming the bullish impulse wave C that is composed of the sub-waves [1]-[2]-[3]-[4]-[5]. Shortly, the price should be rising in the sub-wave (5) to a level of 0.300. The corrective wave (B) will reach 76.4% Fibonacci of the (A) impulse at this level.

Trading plan for [XRPUSD][2] today:

Buy 0.291, TP 0.300

Elliott wave Ethereum analysis

In the two-hour ETHUSD price chart, there is forming the bullish impulse wave within the zigzag-shaped wave (Y). The first four legs have completed, and the market is now running up in wave [5]. The down corrective wave (4) must have completed recently as a simple zigzag a-b-c. There is now forming the initial element of the final wave (5). Therefore, the market should be rising to a level of 507.00. One could enter purchases.

Trading plan for  [ETHUSD][3] today:

Buy 463.01, 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-17112020&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-17112020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus