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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (11 February 2021)

2021-02-11

2021-02-11

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.02.2021Roman 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.

The XRPUSD market seems to have completed the triple zigzag; there is forming a bearish impulse currently.

The article covers the following subjects:

Elliott wave Bitcoin analysis

In the most recent chart section, there is forming the final leg of the large upward impulse. The bearish correction 4 completed as a triple zigzag. Next, the market turned up and started rising. There is now developing the bullish wave 5 that is composed of the sub-waves [1]-[2]-[3]-[4]-[5]. The first two sub-waves have fished within the indicated pattern, wave [3] is still developing. The price should be rising to a level of 49600.00. Next, the market could be declining in the corrective wave [4].

Trading plan for [BTCUSD][1] today:

Buy 44848.50 TP 49600.00

Elliott wave Ripple analysis

After the upward linking wave (X) had finished, the Ripple price sharply dropped. There could be forming a down wave W as a bearish zigzag [A]-[B]-[C]. There have completed the impulse wave [A] and the corrective wave [B], which is a triple zigzag. There is forming the initial element of the final impulse wave [C]. Wave [C] should finish below the previous low, made by the linking wave (xx), at 0.382.

Trading plan for [XRPUSD][2] today:

Sell 0.508, TP 0.382

Elliott wave Ethereum analysis

The hourly timeframe displays the final section of the large impulse wave. The market has completed the horizontal correction 4 as a triangle. Next, the price has started growing in impulse 5. Four out of five legs must have finished in impulse 5. Therefore, the market should be rising in the final upward wave [v] to a level of 1945.00. One could enter long positions in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 1723.18, TP 1945.00

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Price chart of BTCUSD in real time mode

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-11022021&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-11022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus