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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (27 January 2021)

2021-01-27

2021-01-27

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 27.01.2021Roman 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, ETHUSD, and XRPUSD cryptocurrency pairs have not completed the fourth corrective waves. So, the prices could go down in the next few days.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming a global bullish impulse, with corrective wave 4 developing inside. Wave 4 is unfolding as a bearish triple zigzag [W]-[X]-[Y]-[X]-[Z]. The first four sub-waves of this pattern have completed, and there is now forming the final motive wave [Z]. Wave [Z], like other motive waves [W] and [Y], may conclude as a standard zigzag (a)-(b)-©. The price should go up in a short corrective wave (b); next, the market should decline in the impulse wave © to a level of 28000.00. The target is at the support line drawn across the peaks of waves [W] and [Y].

Trading plan for [BTCUSD][1] today:

Sell 32144.00 TP 28000.00

Elliott wave Ripple analysis

In the long term, the XRPUSD is forming a global zigzag A-B-C, where the first two sub-waves have completed. There is now forming the impulse wave C. The C wave’s first three legs have already completed, and the corrective wave 4 is still developing. Wave 4 is a bearish triple zigzag [w]-[x]-[y]-[x]-[z]. Over the next few days, there should be forming the final leg [z] as a downward zigzag (a)-(b)-©. Wave [z] should conclude at a level of around 0.230, which is at the support level.

Trading plan for [XRPUSD][2] today:

Sell 0.264, TP 0.230

Elliott wave Ethereum analysis

The ETHUSD market is forming an upward impulse composed of the sub-waves 1-2-3-4-5. There is now forming the corrective wave 4, which has a complex structure composed of the sub-waves [w]-[x]-[y]-[x]-[z]. There is now developing the final sub-wave [z], which is unfolding as a simple zigzag (a)-(b)-©. The corrective wave (b) should soon complete, and the market will start declining in the impulse wave ©. The price should go down to a level of 1100.00, which is the support level.

Trading plan for  [ETHUSD][3] today:

Sell 1318.50, TP 1100.00

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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-27012021&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-27012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus