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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (17 December 2020)

2020-12-17

2020-12-17

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 17.12.2020Roman 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 three cryptocurrency pairs are forming bullish impulses. The prices should be rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the final leg of the bullish impulse. The corrective wave [4] must have completed as a double three. Next, there has started forming the beginning of the final impulse wave [5] as an impulse. There is now forming sub-wave (3) that should be running up to 22900.00. Next, after a decline in a short correction (4), the market will continue rising in wave (5), as it is outlined in the chart.

Trading plan for [BTCUSD][1] today:

Buy 21817.00 TP 22900.00

Elliott wave Ripple analysis

The XRPUSD is forming the final leg of the bullish impulse in the most recent chart section. The corrective wave [4] should have completed as a zigzag (a)-(b)-©. Therefore, the cryptocurrency pair should be rising in wave [5]. The first upside target is at 0.603, marked by wave 4 of the ending diagonal ©. In the current situation, one could enter long trades.

Trading plan for [XRPUSD][2] today:

Buy 0.556, TP 0.603

Elliott wave Ethereum analysis

The horizontal corrective wave [4] must have finished within the bullish impulse C. Wave [4] is a contracting horizontal triangle (a)-(b)-©-(d)-(e). The price is now rising at the beginning of the upward impulse wave [5]. There have completed sub-waves (1) and (2), and there is now forming impulse (3). Next, the price should go down a little in the corrective wave (4) and resume rising in the final wave (5), as it is outlined in the chart.

Trading plan for  [ETHUSD][3] today:

Buy 639.03, TP 680.90

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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-17122020&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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