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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (15 December 2020)

2020-12-15

2020-12-15

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 15.12.2020Roman 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 the three cryptocurrency pairs covered in the article have recently finished corrective waves and started rising in new bullish impulses. Let us see the situation in more detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market started forming the bullish impulse C more than two months ago. There have completed the sub-waves [1]-[2]-[3]-[4], and the price is rising in the final wave [5]. Wave [5] is a five-wave impulse. The deep corrective wave (4) composed of the sub-waves a-b-c has recently finished, and the price is now rising in wave (5). The market should be running up to a level of 20900.00, where the impulse waves (5) and (3) will be equal.

Trading plan for [BTCUSD][1] today:

Buy 19434.500 TP 20900.000

Elliott wave Ripple analysis

The Ripple market is forming the large upward zigzag A-B-C. The A impulse and the B correction have completed. The C wave is still forming as an impulse. The bearish correction [4] has recently ended; its final sub-wave © is an ending diagonal. The market is following the initial element of the bullish impulse [5]. The price should be rising above level 0.625.

Trading plan for [XRPUSD][2] today:

Buy 0.493, TP 0.625

Elliott wave Ethereum analysis

The ETHUSD market is also forming the impulse wave C of a larger degree. The four legs out of five have finished within the C wave at the time of writing. The most recent chart section displays the structure of the final wave [5], which is an impulse (1)-(2)-(3)-(4)-(5). The corrective wave (4) must have finished as a bearish triple zigzag. Next, there completed the first two legs of the fifth wave. Therefore, the market should continue rising in wave (5) above level 634.00.

Trading plan for  [ETHUSD][3] today:

Buy 590.31, 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-14122020-2020-12-15&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-14122020-2020-12-15&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus