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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (27 November 2020)

2020-11-27

2020-11-27

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 27.11.2020Roman 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 major cryptocurrency pairs must have completed the uptrends. There are forming new downtrends.

The article covers the following subjects:

Elliott wave Bitcoin analysis

As the price started falling sharply, the previous layout is not relevant. The impulse wave C must have ended, and the beginning of the new downtrend is currently unfolding. There is forming the down impulse wave A. Therefore, the market should run down in wave A to a level below 14999. On could open short positions under the current situation.

Trading plan for [BTCUSD][1] today:

Sell 17149.50. TP 14999.15

Elliott wave Ripple analysis

The upward linking wave [X] has completed as a double zigzag. There is now forming the impulse wave [A], which is composed of the sub-waves 1-2-3-4-5. The price could rise a little in the final leg of correction 4. Next, the Ripple price will continue declining in wave 5, as it is outlined in the chart. The entire [A] impulse should end at a level of around 0.375. It is relevant to enter short trades under the current situation.

Trading plan for [XRPUSD][2] today:

Sell 0.544, TP 0.373

Elliott wave Ethereum analysis

Like other major cryptocurrency pairs, the ETHUSD market has finished the uptrend. The price is running down in the new downtrend. There is likely to be forming the bearish impulse A that is composed of five sub- waves. The first four legs of the A impulse have completed, and there forming sub-wave [5]. The Ethereum price should be declining to a level of 439.21, which is marked by wave (4).

Trading plan for  [ETHUSD][3] today:

Sell 519.79, TP 439.21

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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-27112020&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-27112020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus