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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (29 January 2021)

2021-01-29

2021-01-29

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 29.01.2021Roman 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.

Three major cryptocurrencies have finished the corrective waves, and so the price should start rising in impulse waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The market has finished the long-term corrective wave 4, which is an element of the bullish impulse of a larger degree. Wave 4 is a bearish triple zigzag [W]-[X]-[Y]-[X]-[Z]. Therefore, the price should be rising in the sub-wave 5 over the next few days. Therefore, one could enter buy trades. The first target is 34880.00, which is a high made by wave [X].

Trading plan for [BTCUSD][1] today:

Buy 33087.50 TP 34880.00

Elliott wave Ripple analysis

The chart displays the upward wave structure composed of the sub-waves 1-2-3-4-5, which is the first wave of the global impulse C, unfolding as a leading diagonal. The corrective wave 4 must have completed as a bearish triple zigzag [w]-[x]-[y]-[x]-[z]. Therefore, there should be developing the final sub-waves 5. The first target is level 0.284, which is the high made by the linking wave [x]. One could enter purchases.

Trading plan for [XRPUSD][2] today:

Buy 0.260, TP 0.284

Elliott wave Ethereum analysis

The ETHUSD market is forming the upward impulse wave 1-2-3-4-5. The corrective wave 4 seems to have completed its pattern. Wave 4 has a complex structure of a triple zigzag [w]-[x]-[y]-[x]-[z]. Therefore, the Ethereum price should be rising in the final sub-wave 5 over the next few days. The first target is level 1468.00, marked by the upward linking wave [x]. I recommend buying the ETHUSD.

Trading plan for  [ETHUSD][3] today:

Buy 1288.25, TP 1468.00

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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-29012021&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-29012021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus