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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (22 December 2020)

2020-12-22

2020-12-22

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 22.12.2020Roman 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 current XRPUSD structure hints at a horizontal corrective wave developing, which may take the form of a triangle. Let’s consider the chart in more detail on an H2 time frame.

The article covers the following subjects:

Elliott wave Bitcoin analysis

After the completion of corrective wave (4), which took the shape of an A-B-C zigzag, a new bullish impulse has been developing. At the moment, sub-waves 1 and 2 have been fully completed, and impulse wave 3 is still being formed. Most likely, its first four parts are formed, and wave [5] is just beginning to form. There will possibly be a rise in the price within wave [5] towards the level of 26000.00.

Trading plan for [BTCUSD][1] today:

Buy 23129.00 TP 26000.00

Elliott wave Ripple analysis

There is the initial part of a horizontal corrective wave [4] forming, which may take the form of a contracting triangle (a)-(b)-©-(d)-(e). After the end of a bearish wave (a) in the form of a double zigzag w-x-y, there was a rise in the corrective wave (b). Most likely, wave (b) will be a simple zigzag, the first two parts of which, waves a and b, already look completed. In the coming days, the price is expected to rise above the previous maximum, 0.656, in wave (b).

Trading plan for [XRPUSD][2] today:

Buy 0.518, TP 0.656

Elliott wave Ethereum analysis

As for ETHUSD, the final fifth wave which takes the form of a five-wave impulse is developing. A bearish correction [4] has been completed recently, it took the form of a double zigzag (w)-(x)-(y). In the coming trading week, the cryptocurrency pair could rise above the high of 677.00, formed by the impulse [3], towards the level of 881.01. Consider opening longs.

Trading plan for  [ETHUSD][3] today:

Buy 613.66, TP 677.00

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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-22122020&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-22122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus