Logo

Posts

Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (03 February 2021)

2021-02-03

2021-02-03

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 03.02.2021Roman 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 Bitcoin have completed forming corrective waves, and the price should start rising in impulse waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The deep corrective wave 4 seems to have completed in the large upward impulse. Wave 4 is a bearish triple zigzag [W]-[X]-[Y]-[X]-[Z]. The final motive wave [Z] is simple zigzag (a)-(b)-©. There is unfolding the initial part of the upward impulse wave 5. There have completed the sub-waves [1]-[2]. Therefore, the BTCUSD price should be rising in wave [3] to a level above 38670.00.

Trading plan for [BTCUSD][1] today:

Buy 36676.00 TP 38670.00

Elliott wave Ripple analysis

The XRPUSD market is forming the upward impulse wave. The first two legs, sub-waves (1) and (2) have completed. There has started developing impulse (3). The first impulse wave 1 of wave (3) has finished. There is now forming the bearish corrective wave 2 as a simple zigzag [a]-[b]-[c]. Impulse [c] will conclude correction 2 at a level of around 0.300. Next, the market should turn up and start rising.

Trading plan for [XRPUSD][2] today:

Sell 0.379, TP 0.300

Elliott wave Ethereum analysis

The horizontal corrective wave 4 must have completed as a triangle composed of five major sub-waves [A]-[B]-[C]-[D]-[E]. Therefore, the price should be rising in wave 5, which could complete as a simple five- wave impulse or an ending diagonal. The first target for buy trades is level 1700.00.

Trading plan for  [ETHUSD][3] today:

Buy 1551.05, TP 1700.00

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” :)

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker [here][4]. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while [depositing][5] your trading account.
  • Telegram chat for traders: . We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

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.

Rate this article:

{{value}}

( {{count}} {{title}} )

  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-03022021&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-03022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus