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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (4 December 2020)

2020-12-04

2020-12-04

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 04.12.2020Roman 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.

The market continues following the suggested scenarios. After the corrective sub-waves completed, all cryptocurrency pairs should be developing bullish impulses.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the upward impulse wave C, namely its final leg, the sub-waves [5]. Wave [5] is also an impulse. There have completed the sub-waves (1)-(2)-(3), and there is forming the corrective wave (4). This correction is composed of three sub-waves, it is a zigzag. The market should decline a little in a small impulse c. Next, we could see wave (5) conclude the bullish trend at a level of around 20000.00.

Trading plan for [BTCUSD][1] today:

Buy 19282.50. TP 20000.00

Elliott wave Ripple analysis

Like the XRPUSD market is forming the powerful impulse wave C that is composed of five sub-waves. Four legs out of five have completed within the C wave, and wave [5] is still developing. Within impulse [5], there is forming the middle leg, impulse wave (3). The price should decline a little in the final leg of the corrective sub-wave 4. Next, the price could be rising in wave 5 to a level of  0.689, as it is outlined in the chart.

Trading plan for [XRPUSD][2] today:

Buy 0.614, TP 0.689

Elliott wave Ethereum analysis

The ETHUSD market trend is similar. There is forming the global wave C composed of the sub-waves [1]-[2]-[3]-[4]-[5]. There is forming the final wave [5] an impulse. The first three legs have finished within the [5] impulse, and the correction (4) is still unfolding with the final wave c yet to complete. The market could go down a little in the c wave. Next, the market will be rising to a level of 665.00, as it is outlined in the chart.

Trading plan for  [ETHUSD][3] today:

Buy 604.39, 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-04122020&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-04122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus