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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (18 December 2020)

2020-12-18

2020-12-18

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.12.2020Roman 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.

BTC, XRP, and ETH have completed forming horizontal corrective waves. There are now forming bullish impulses. Let us explore each cryptocurrency price chart in more detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD finished forming the sideways corrective wave [4] that is a double three composed of three sub-waves (w)-(x)-(y). Next, the price started forming the bullish impulse [5]. The third wave is now developing in impulse [5]. The price should be running up to a level of 24320.00. Next, the market could go down a little in the corrective wave (4).

Trading plan for [BTCUSD][1] today:

Buy 22876.00 TP 24320.00

Elliott wave Ripple analysis

The XRPUSD market is forming the upward impulse wave C, where the fourth wave has recently completed. Correction [4] is a flat, where the sub- waves (a) and (b) are zigzags, wave © is an ending diagonal. The market is rising in the final impulse wave [5]. The Ripple price should be moving up above the high made by wave (b) that level 0.675.

Trading plan for [XRPUSD][2] today:

Buy 0.581, TP 0.675

Elliott wave Ethereum analysis

The ETHUSD is forming a bullish impulse, with the horizontal corrective wave [4] inside, completed as a contracting triangle. There is now developing impulse wave [5] that should conclude the entire bullish trend. The sub-waves (1) and (2) have completed, and the impulse wave (3) is still forming. Wave (3) should end at a level of 703.60. After the market reaches this level, it could go down in the corrective wave (4), as it is outlined in the chart.

Trading plan for  [ETHUSD][3] today:

Buy 641.55, TP 703.60

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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-18122020&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-18122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus