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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (12 February 2021)

2021-02-12

2021-02-12

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.02.2021Roman 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 ETHUSD market should complete the large bullish impulse in the next few days.

The article covers the following subjects:

Elliott wave Bitcoin analysis

After the bearish triple zigzag finished, the price has started rising in the new impulse wave [1]-[2]-[3]-[4]-[5]. The sub-waves [1] and [2] have completed. There is unfolding the bullish wave [3] as a simple five-wave impulse. Within impulse [3], there is forming the final, fifth sub-wave 5, which is an element of wave (5). The sub-wave 5 should end at a level of 49600.00. Next, the market could be declining in the bearish corrective wave [4].

Trading plan for [BTCUSD][1] today:

Buy 47118.50 TP 49600.00

Elliott wave Ripple analysis

As you see from the most recent section of the XRPUSD chart, there is forming wave W as a descending zigzag [A]-[B]-[C]. The market must have completed forming the corrective wave [B] as a triple zigzag (w)-(x)-(y)-(x)-(z). So, the price should soon start declining in the impulse wave [C]. The price could go down below level 0.382, which is the low marked by the linking wave (xx).

Trading plan for [XRPUSD][2] today:

Sell 0.531, TP 0.382

Elliott wave Ethereum analysis

After wave 4 ended as a skewed triangle, the market has resumed rising in impulse wave 5. Within impulse 5, there have completed the motive sub-waves [i] and [iii], and the corrective sub-waves [ii] and [iv]. There is now forming the bullish impulse [v], namely its final sub-wave (5). The price could be rising up to level 1945.00. Therefore, one could enter long trades in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 1736.26, 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-12022021&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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