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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (24 November 2020)

2020-11-24

2020-11-24

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.11.2020Roman 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.

All cryptocurrency pairs should soon decline in corrective sub-waves. Next, the cryptocurrency market should resume rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin market continues forming the global double combination. In the upward wave (Y) that a simple zigzag A-B-C, the first two elements have completed. The price is rising in the bullish impulse wave C. There is forming the down corrective wave [4] as a simple zigzag (a)-(b)-©, which should shortly end. Next, the Bitcoin price should be rising in the final wave [5] towards a level of 20000.00.

Trading plan for [BTCUSD][1] today:

Buy 17590.00, TP 20000.00

Elliott wave Ripple analysis

There is forming the bullish linking wave [X] as a double zigzag. There is unfolding wave (Y) as a standard zigzag A-B-C. When the bearish correction B ended as a triple zigzag [w]-[x]-[y]-[x]-[z], the price has started rising in the final impulse C. The impulse wave [3] should have finished, and the market is likely to go down a little in the corrective wave [4]. Next, the market should resume rising in the final wave [5] to a level of 0.650.

Trading plan for [XRPUSD][2] today:

Buy 0.599, TP 0.650

Elliott wave Ethereum analysis

The ETHUSD market is also forming the final wave in the bullish double zigzag. The most recent chart section displays the upward impulse wave C where the first four elements have completed, and the price is rising in impulse [5]. There should have finished the impulse wave 3 which is an element of the sub-wave (5) of [5]. Therefore, the Ethereum price should decline a little in corrective wave 4. Next, the market will be rising in the sub-wave 5 towards a level of 653.00, as it is outlined in the chart.

Trading plan for  [ETHUSD][3] today:

Buy 613.31, TP 653.00

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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-24112020&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-24112020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus