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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (14 December 2020)

2020-12-14

2020-12-14

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 14.12.2020Roman 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 BTCUSD bullish trend should end at a level of about 20900.000. At this level, the impulse wave (5) will be 100% of impulse (3) according to Fibonacci retracement.

The article covers the following subjects:

Elliott wave Bitcoin analysis

There is now forming the final, fifth wave of the long-term impulse wave C. Four out five sub-waves have completed within impulse [5]. The deep correction (4) ended, and the cryptocurrency pair is rising in the sub- wave (5). The price should be running up to a level of 20900.00. At this level, the sub-waves (3) and (5) will be equal. Therefore, one could enter long trades in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 19309.500 TP 20900.000

Elliott wave Ripple analysis

The XRPUSD market must have completed the flat corrective wave [4] as a part of the bullish impulse C. Correction [4] is a flat, its final wave © is an ending diagonal. There is now forming the final wave [5]. The market could be running up to a level above 0.625. It is relevant to buy in the current situation.

Trading plan for [XRPUSD][2] today:

Buy 0.512, TP 0.625

Elliott wave Ethereum analysis

In the long-term impulse wave C, there is forming the final wave [5] as a simple five-wave impulse. The long corrective wave (4) has completed as a bearish triple zigzag. There is developing the beginning of wave (5). The first sub-waves 1 and 2 have completed so far. Therefore, the market should continue rising in the sub-waves 3-4-5 towards level 634.00, made by wave (3).

Trading plan for  [ETHUSD][3] today:

Buy 590.45, TP 634.000

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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-14122020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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