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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (21 December 2020)

2020-12-21

2020-12-21

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 21.12.2020Roman 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.

For XRPUSD and ETHUSD, a slight decline is expected in corrective sub- waves, after which an impulse rise is possible.

The article covers the following subjects:

Elliott wave Bitcoin analysis

We see the BTCUSD market rising in an impulse trend. Most likely, a corrective wave (4), consisting of sub-waves A-B-C, has recently been formed, then we saw a rise in price in the initial part of the final wave (5). Impulse 1 and correction 2 were built to this impulse. Now the final section of impulse wave 3 is forming. In the near future, sub- waves (3)-(4)-(5) will rise to the level of 26000.00, as shown in the chart.

Trading plan for [BTCUSD][1] today:

Buy 23689.00 TP 26000.00

Elliott wave Ripple analysis

A large bullish impulse is developing in the XRPUSD market, in which the upward impulse wave [3] has been completed recently. This was followed by a correctional wave [4]. Judging by the initial part, correction [4] takes the form of a horizontal contracting triangle. Recently, the first sub-wave (a) of this triangle has been completed, it took the form of a double zigzag. Currently, we see a rise in sub-wave (b), which may take the form of a standard a-b-c zigzag. Most likely, the bearish correction b will be completed in the area of ​​0.539, after which a rise in impulse c is possible to the area above the level of 0.656 (the high formed by impulse a).

Trading plan for [XRPUSD][2] today:

Buy 0.558, TP 0.656

Elliott wave Ethereum analysis

On the H1 timeframe of ETHUSD, there is an upward impulse wave (3), in which the first four parts have been fully completed, and now the final fifth wave is forming. Wave 5 is a bullish impulse consisting of sub- waves [1]-[2]-[3]-[4]-[5]. Most likely, a horizontal correction [4] is developing now, it takes the form of a double three (w)-(x)-(y). Perhaps, we will see it completed in the area of ​​the previous low, which was formed by wave (w), that is, near the level of 624.00. Then, the cryptocurrency pair is expected to rise above the level of 677.00 in wave [5], as indicated in the chart.

Trading plan for  [ETHUSD][3] today:

Buy 643.42, TP 677.00

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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-21122020&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-21122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus