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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (28 December 2020)

2020-12-28

2020-12-28

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 28.12.2020Roman 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.

Ripple is forming the upward corrective wave [4] as a double zigzag. The final zigzag-shaped wave should be developing over the next few days. Its approximate structure is outlined in the chart.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming a large bullish impulse (1)-(2)-(3)-(4)-(5). The hourly timeframe represents the final part of this impulse, where correction (4) has finished, and the upward impulse wave (5) is now forming. The first three legs of wave (5) must have ended, and three is forming correction 4. Wave 4 should have a simple zigzag structure and finish at a level of about 25000.00. After the corrective wave finishes, the market should start rising in wave 5, as it is outlined in the chart.

Trading plan for [BTCUSD][1] today:

Sell 27149.50 TP 25000.00

Elliott wave Ripple analysis

There is forming a large down wave (W), which is the beginning of a double global zigzag. Wave (W) is forming as a standard zigzag composed of the three sub-waves A-B-C. The corrective wave B has recently finished, and there is now unfolding the bearish impulse C. There should be forming correction [4] as a double zigzag (W)-(X)-(Y). There should be soon developing the final zigzag (Y), which could finish above the final point of wave (W), at a level of about 0.386. Next, the price should be declining in wave [5].

Trading plan for [XRPUSD][2] today:

Buy 0.278, TP 0.386

Elliott wave Ethereum analysis

The market continues forming a large bullish impulse. The bearish corrective wave 4 must have ended as a triple zigzag [w]-[x]-[y]-[x]-[z]. Therefore, there is forming the final impulse composed of the sub-waves [1]-[2]-[3]-[4]-[5]. The first two legs of this impulse have ended, and there is forming the impulse wave [3]. The Ethereum price should be rising in wave [3] above level 750.00. One could enter purchases under the current conditions.

Trading plan for  [ETHUSD][3] today:

Buy 700.07, TP 750.00

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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-28122020&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-28122020&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus