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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (20 January 2021)

2021-01-20

2021-01-20

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.01.2021Roman 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 BTCUSD market must be unfolding a corrective wave as a triangle.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the upward impulse wave [5], namely its final leg. Corrective wave 4 could still be developing in impulse (5). Wave 4 must be unfolding as a contracting horizontal triangle [a]-[b]-[c]-[d]-[e]. The final wave of the triangle, wave [e], should end soon. Next, the market will continue rising in wave 5 to a level of above 42000.00. This level is marked by impulse wave 3.

Trading plan for [BTCUSD][1] today:

Buy 34973.25 TP 42000.00

Elliott wave Ripple analysis

The XRPUSD market is forming a new bullish trend. There is developing the beginning of the upward impulse wave. Corrective wave 4 is developing as a double zigzag [W]-[X]-[Y]within wave (1). Linking wave [X] is an extended wave unfolding as a triple zigzag. Correction 4 should soon end, and the price could start rising in wave 5 to a level above the high marked by wave 3, that is, above level 0.380.

Trading plan for [XRPUSD][2] today:

Buy 0.284, TP 0.380

Elliott wave Ethereum analysis

There is forming the impulse wave C, with the final impulse 5 of (5) developing inside. Four legs out of five have completed in impulse 5. The market is currently rising in sub-wave [5]. The Ethereum price should continue rising to a level of 1520.00. Next, the market could turn down and start declining a new downtrend. One could enter long trades in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 1355.79, TP 1520.00

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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-20012021&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-20012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus