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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (2 December 2020)

2020-12-02

2020-12-02

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 02.12.2020Roman 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.

Similar to the previous trading days, the cryptocurrency pairs are forming bullish impulses. Let us study the charts of each cryptocurrency pair in more detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

There is forming the upward impulse wave C. The market has recently completed the powerful impulse wave [3], which is an element of the C wave. Next, following a decline in the corrective wave [4], there has started the final impulse wave [5]. There is now forming correction (4), which is about to end soon. Next, the price should continue rising in wave (5) towards a level of 20000.00, as it is outlined in the chart. It is relevant to enter purchases in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 18433.00. TP 20000.00

Elliott wave Ripple analysis

The XRPUSD market continues developing the final impulse wave [5], which is the final leg of the global impulse wave C. There should be forming the final section of impulse (3). Over the next few days, impulse (3) could finish and the price will go down in correction (4). The entire wave [5] could end at a level of around the previous high made by wave [3], that is, around level 0.795. An approximate trajectory of the Ripple future price movement is outlined in the chart.

Trading plan for [XRPUSD][2] today:

Buy 0.597, TP 0.795

Elliott wave Ethereum analysis

In the most recent chart section, the Ethereum market is forming the final impulse wave [5] that should conclude the impulse wave C of a larger degree. There is likely to be forming correction (4) as a zigzag. It’s likely structure is projected in the chart. The price should go down a little in correction (4). Next, the market should start growing in wave (5) towards a level of 665.00. One could enter purchases under the current conditions.

Trading plan for  [ETHUSD][3] today:

Buy 577.93, TP 665.00

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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-02122020&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-02122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus