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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (18 January 2021)

2021-01-18

2021-01-18

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.01.2021Roman 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.

All three cryptocurrency pairs are forming the final, fifth waves of the bullish trends.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The hourly BTCUSD chart displays the structure of the impulse wave 1-2-3-4-5. The market must have completed the sideways corrective wave 4 as a flat [a]-[b]-[c], where the sub-waves [a] and [b] are zigzags, and the sub-wave [c] is an impulse. Therefore, the bitcoin price should be rising in wave 5 to a level of 50000.00. According to the Elliot wave rules, wave 5 could complete an impulse or an ending diagonal.

Trading plan for [BTCUSD][1] today:

Buy 35172.50 TP 50000.00

Elliott wave Ripple analysis

There is forming an upward impulse wave composed of the sub-waves (1)-(2)-(3)-(4)-(5). The market is forming the first sub-wave of the pattern, wave (1), as a five-wave impulse. The market could have completed the flat corrective wave 4 as a contracting triangle. The price should be rising in the final wave 5 to a level of 0.380, marked by the corrective wave 4.

Trading plan for [XRPUSD][2] today:

Buy 0.272, TP 0.380

Elliott wave Ethereum analysis

The ETHUSD market is also forming the upward impulse wave. The hourly timeframe displays the final part of this wave. There is developing the sub-wave (5) as an impulse. The bearish correction 4 finished, and the price is rising in wave 5. Wave 5 is an impulse; 4 out of 5 legs must have completed withing wave 5. Therefore, the price should be growing in the final sub-wave [5] of 5 to a level of 1450.00.

Trading plan for  [ETHUSD][3] today:

Buy 1194.88, TP 1450.00

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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-18012021&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-18012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus