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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (11 December 2020)

2020-12-11

2020-12-11

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.12.2020Roman 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.

All concurrency pairs covered in the article are forming new bullish waves, which are likely to be simple impulses.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the most recent section of the BTCUSD chart, there is forming the bullish impulse [5], which is an element of the large impulse wave C. Within impulse [5], a deep corrective wave (4) must have completed as a simple zigzag a-b-c. Therefore, the market could be rising in the final sub-wave (5). The market could be rising above level 19458.52. One could enter long trades in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 17962.00 TP 19458.52

Elliott wave Ripple analysis

The XRPUSD market is forming the bullish zigzag A-B-C, which is an element of the (Y) wave of a larger degree. The A wave has completed within this zigzag as a leading diagonal. The B correction has also completed as a triple zigzag. There is now forming the impulse wave C, namely its final leg. After the long-term correction [4] finished, there have completed two small sub-waves 1 and 2 within wave [5]. Therefore, the market should be rising in wave [5] above level 0.625.

Trading plan for [XRPUSD][2] today:

Buy 0.554, TP 0.625

Elliott wave Ethereum analysis

The ETHUSD market, like other major cryptocurrencies, is forming the final fifth wave in the global upward impulse C. The first four legs have completed within the impulse wave [5]. A deep corrective wave (4) has finished as a bearish triple zigzag w-x-y-xx-z. Next, there have ended two small sub-waves 1 and 2 of smaller degree. Over the next few days, the Ethereum price should be rising above level 606.67, made by the linking wave xx.

Trading plan for  [ETHUSD][3] today:

Buy 543.59, 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-11122020&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-11122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus