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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (9 December 2020)

2020-12-09

2020-12-09

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.12.2020Roman 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.

Al the three cryptocurrency pairs must have completed the corrective waves, and the prices should be rising soon.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market has been forming the upward impulse wave C since early October 2020. There is now forming the final leg of the C wave, that is the bullish impulse wave [5]. The long corrective wave (4) must have completed. Wave (4) consists of three sub-waves a-b-c, where the b correction is a double zigzag. Therefore, the price should be rising in wave (5) to a level above 19458.52.

Trading plan for [BTCUSD][1] today:

Buy 18202.00 TP 19458.52

Elliott wave Ripple analysis

There is forming the final leg of the simple zigzag A-B-C. In the impulse wave C, there have finished the sub-waves [1]-[2]-[3], and the corrective wave [4] is about to end soon. Correction [4] is a horizontal triangle (a)-(b)-©-(d)-(e). Therefore, the price should be growing in wave [5] above the level of 0.625. One could enter buy positions in the current situation.

Trading plan for [XRPUSD][2] today:

Buy 0.554, TP 0.625

Elliott wave Ethereum analysis

The ETHUSD market has been forming the upward impulse wave C, composed of five sub-waves, over the past two months. The first four legs of the C wave have finished, and wave [5] is yet forming. The market should have completed the long correction (4) as a triple zigzag. So, the price should be rising in wave (5). The market could be rising to a level above 606.67, marked by wave xx.

Trading plan for  [ETHUSD][3] today:

Buy 547.81, TP 606.67

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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-09122020&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-09122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus