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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (21 January 2021)

2021-01-21

2021-01-21

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 21.01.2021Roman 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.

Ethereum and Ripple are forming bearish corrective waves in the bullish impulses. Bitcoin is developing a large triangle correction.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD continues forming the bullish impulse. The first three legs of the impulse have completed, and there is now forming the corrective wave 4. The horizontal correction 4 is unfolding as a contracting triangle [a]-[b]-[c]-[d]-[e]. Wave [c] may end at a level of 32750.00. Next, the price will be rising in wave [d]. An approximate trajectory of the Bitcoin future price movement is outlined in the chart. One could consider sell trades with a target at the end of wave [c].

Trading plan for [BTCUSD][1] today:

Sell 34585.50 TP 32750.00

Elliott wave Ripple analysis

The hourly Ripple price chart shows the beginning of the bullish impulse wave which will conclude the global upward zigzag A-B-C. There is developing wave (1) as a five-wave impulse. There is unfolding corrective wave 4, composed of the sub-waves, [W]-[X]-[Y], within impulse (1). The double zigzag should end soon after a short impulse wave © completes. Next, the price should start rising in wave 5. The nearest target for purchases is the high made by wave 3, level 0.380.

Trading plan for [XRPUSD][2] today:

Buy 0.293, TP 0.380

Elliott wave Ethereum analysis

The ETHUSD market is forming the bullish impulse wave C, with the final leg of impulse wave [5] developing inside. There is forming the upward impulse 5 composed of the sub-waves [1]-[2]-[3]-[4]-[5]. Wave [3] has recently completed, and there is now forming corrective wave [4]. Wave 4 should end as a simple zigzag (a)-(b)-©. The © should be running down to a level of 1202.00. Next, the Ethereum price will resume rising in the final wave [5], which could end higher than wave [3], at a level of around 1450.00.

Trading plan for  [ETHUSD][3] today:

Sell 1322.61, TP 1202.00

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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-21012021&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-21012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus