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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (09 February 2021)

2021-02-09

2021-02-09

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.02.2021Roman 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.

All three cryptocurrency pairs could slightly rise in price in the near future. Next, the prices should go down. Let us see the market sentiment of each cryptocurrency in detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The chart displays the final leg of the upward impulse wave. After the bearish triple zigzag [w]-[x]-[y]-[x]-[z] completed, the price has started rising again. There is now forming the fifth wave as an impulse [1]-[2]-[3]-[4]-[5]. The upward wave [3] should soon finish at a level of around 48500.00. Next, the market could be declining in the corrective wave [4].

Trading plan for [BTCUSD][1] today:

Buy 46840.50 TP 48500.00

Elliott wave Ripple analysis

After the upward linking wave (X) has finished, the price has dropped. There is likely to be forming the bearish wave W as a zigzag [A]-[B]-[C]. The impulse wave [A] has completed, and the correction [B] is still forming as an upward triple zigzag. The final leg of the triple zigzag, the sub-wave (z), could end at a level of around 0.490. Afterward, the price will go down in the impulse.

Trading plan for [XRPUSD][2] today:

Buy 0.455, TP 0.490

Elliott wave Ethereum analysis

The market has finished the horizontal corrective wave 4 as a triangle [A]-[B]-[C]-[D]-[E]. Next, the price has started rising in the bullish impulse 5. According to the internal structure, four out of five legs have completed within wave 5. The Ethereum price should be rising in the final impulse wave [v] to a level of 1900.00. Next, the market could turn down and start declining. One could enter long trades in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 1709.97, TP 1900.00

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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-09022021&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-09022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus