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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (11 January 2021)

2021-01-11

2021-01-11

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.01.2021Roman Onegin

I welcome my readers!

I have prepared a short-term cryptocurrency forecast based on Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.

The Ripple seems to have finished the downtrend, and there is forming the beginning of an uptrend.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the bullish impulse 5, namely, its final leg. There is now developing the impulse sub-wave [5] composed of the sub-waves (1)-(2)-(3)-(4)-(5). The first four elements of the wave [5] have completed, and there is forming the final impulse (5). The market may have finished forming the bearish correction (4) that is an element of the third impulse wave. Therefore, the price should continue rising in wave (5). An approximate trajectory of the Bitcoin future price trend is outlined in the chart.

Trading plan for [BTCUSD][1] today:

Buy 35603.00 TP 50000.00

Elliott wave Ripple analysis

The XRPUSD market completed the large down triple zigzag. Next, the price turned up and started forming a new uptrend. There should be developing wave (1) that is likely to be a leading diagonal because the end of correction 4 is higher than the end of wave 1. The market should be running up in wave 5 to a level of 0.460 in the next few days, as it is outlined in the chart.

Trading plan for [XRPUSD][2] today:

Buy 0.278, TP 0.460

Elliott wave Ethereum analysis

The ETHUSD market continues rising in the bullish impulse wave C. There is currently developing the final sub-wave [5] that has completed four sub-waves out of five. The market seems to have completed the upward impulse 3; next, the price went down in correction 4, which may also have completed. Therefore, the Ethereum price should be rising in the impulse wave 5 to a level of 1580.00

Trading plan for  [ETHUSD][3] today:

Buy 1108.45, TP 1580.00

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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-11012021&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-11012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus