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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (8 January 2021)

2021-01-08

2021-01-08

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 08.01.2021Roman 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 should have finished the down wave (W), and there is forming the upward wave (X).

The article covers the following subjects:

Elliott wave Bitcoin analysis

The most recent price chart section displays the upward impulse wave (5), which is composed of five waves 1-2-3-4-5. There is forming the bullish impulse wave 5, consisting of the sub-waves [1]-[2]-[3]-[4]-[5]; it is a five-wave impulse. The first four legs of this impulse have completed, so the price should be rising to a level of 41000.00 in the final sub-waves [5]. One could enter long positions in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 38641.00 TP 41000.00

Elliott wave Ripple analysis

The XRPUSD market must have ended the down wave (W) in late December 2020. There is now forming the linking down wave (X) as a flat A-B-C. Wave A is a triple zigzag; wave B is a standard zigzag, wave C is a bullish impulse that is still forming. The price should be rising in the final sub-wave [5] of C to a level of 0.407. At this level, the linking wave (X) will be 50% of wave (W) according to Fibonacci retracements.

Trading plan for [XRPUSD][2] today:

Buy 0.308, TP 0.407

Elliott wave Ethereum analysis

There is forming the upward impulse wave 5, with the final fifth wave forming inside. The first three legs have finished in the sub-wave [v]. There is forming the corrective wave (iv), which is likely to be a flat a-b-c. Correction b of this flat may end at a level of 1233.13. Next, the price will decline in impulse c, as it is outlined in the chart.

Trading plan for  [ETHUSD][3] today:

Buy 1158.41, TP 1233.13

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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-08012021&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-08012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus