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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (18 February 2021)

2021-02-18

2021-02-18

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.02.2021Roman 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.

Bitcoin and Ethereum could start developing new corrective waves, so the market might be moving down. Ripple should continue rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The most recent chart section displays the structure of the upward impulse wave [3], which must have finished. There has started forming a bearish corrective wave as a simple zigzag (a)-(b)-©. There is unfolding the first element of this zigzag, the impulse wave (a). The BTCUSD price should be declining in the indicated wave to a level below the previous low made by the bearish correction 4, level 45800.00.

Trading plan for [BTCUSD][1] today:

Sell 52128.50, TP 45800.00

Elliott wave Ripple analysis

The XRPUSD market is forming the final sub-wave of the global corrective wave. After the linking wave (X) finished, wave (Y) has started with the first leg, the W zigzag, forming inside. Zigzag W is composed of the sub-waves [A]-[B]-[C], where the [B] is a bullish triple zigzag (w)-(x)-(y)-(xx)-(z). The linking wave (xx) has recently completed, and the price is now rising in the final sub-wave (z). Therefore, the Ripple price should be rising in the near future.

Trading plan for [XRPUSD][2] today:

Buy 0.542, TP 0.583

Elliott wave Ethereum analysis

As it is clear from the ETHUSD price chart, after the corrective wave 4 completed as a skewed triangle, the price has started rising in the bullish impulse 5. There is unfolding wave [iv] of this impulse as a double three (w)-(x)-(y). Wave (x) is about to finish. Therefore, the market should be declining in a new bearish correction (y), which will conclude wave [iv]. An approximate trajectory of the future Ethereum price movement is outlined in the chart.

Trading plan for  [ETHUSD][3] today:

Sell 1904.73, TP 1652.00

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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-18022021&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-18022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus