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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (28 January 2021)

2021-01-28

2021-01-28

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 28.01.2021Roman 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 covered in the article should be declining in the impulse waves, which will conclude the triple zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the corrective wave 4 as a triple zigzag. The sub-waves [W]-[X]-[Y]-[X] have completed. The down wave [Z] is developing now. The [Z] wave is unfolding as a simple zigzag (a)-(b)-©, where the impulse wave (a) and the correction (b) have completed, and the market should be forming the impulse wave ©. The price can go down to a level of 28000.00, which is a support.

Trading plan for [BTCUSD][1] today:

Sell 31392.00 TP 28000.00

Elliott wave Ripple analysis

There is developing the impulse wave composed of five sub-waves 1-2-3-4-5. There is currently forming a long corrective wave 4 as a bearish triple zigzag [w]-[x]-[y]-[x]-[z]. There is unfolding the final motive wave [z] as a simple zigzag (a)-(b)-©. Wave [z] should end at a level of 0.230, which is a support. One could enter short trades in the current situation.

Trading plan for [XRPUSD][2] today:

Sell 0.255, TP 0.230

Elliott wave Ethereum analysis

The ETHUSD market continue forming the corrective wave 4 as a triple zigzag [w]-[x]-[y]-[x]-[z]. The first four legs of the pattern have completed, and there is currently unfolding the final sub-wave [z]. Wave [z] should complete as a simple zigzag (a)-(b)-©. The price should be declining in the impulse wave © to a level of 1100.00, which is at the support line drawn across the peaks of the sub-waves [w] and [y]. One could consider sell trades in the current situation.

Trading plan for  [ETHUSD][3] today:

Sell 1279.22, 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-28012021&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-28012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus