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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (10 December 2020)

2020-12-10

2020-12-10

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 10.12.2020Roman 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 has finished forming corrective waves for all cryptocurrency pairs covered in the article. Therefore, the market should start rising in new bullish impulse waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

There is forming the final leg of the large bullish impulse C. Wave [5] is developing as an impulse composed of five sub-waves. The long-term corrective wave (4) must have finished as a zigzag a-b-c, where wave b is a double zigzag. Therefore, the price should be rising in wave (5), which should conclude the entire uptrend. The first target is level 19458.52, marked by the correction b.

Trading plan for [BTCUSD][1] today:

Buy 18446.00 TP 19458.52

Elliott wave Ripple analysis

The Ripple market is forming the impulse wave C. The corrective wave [4] must have finished as a zigzag (a)-(b)-©, where the (b) wave is a double zigzag, and the © wave is a truncated impulse. There is now forming the initial element of the final impulse wave. The price should be rising to a level above 0.625. One could enter long positions in the current situation.

Trading plan for [XRPUSD][2] today:

Buy 0.571, TP 0.625

Elliott wave Ethereum analysis

The ETHUSD market continues forming the bullish impulse C, with the final wave [5] developing inside. In the most recent chart section, the market has completed the bearish corrective wave (4) as triple zigzag w-x-y-xx-z. Therefore, the Ethereum price should be rising to a level above 606.67. I recommend entering buy trades in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 567.33, 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-10122020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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