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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (19 February 2021)

2021-02-19

2021-02-19

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 19.02.2021Roman 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 BTCUSD and the ETHUSD should be declining in the corrective sub- waves. The Ripple price could be rising in the final leg of the triple zigzag.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming a bullish trend. The hourly timeframe displays the final section of the upward impulse. After the bearish correction 4 completed as a triple zigzag, the market has started rising in impulse5, which is composed of the sub-waves [1]-[2]-[3]-[4]-[5]. Most likely, wave [3] has completed as an impulse, so the market should be declining in the corrective wave [4]. The chart displays the first sub-wave of wave [4], impulse (a). The market should be moving down in impulse (a) to a level below 45800.00.

Trading plan for [BTCUSD][1] today:

Sell 51795.00, TP 45800.00

Elliott wave Ripple analysis

There is developing the down wave W as a simple zigzag [A]-[B]-[C]. After a sharp price decline in the impulse wave [A], the market has started rising in the deep corrective wave [B], which is a complex formation, a triple zigzag (w)-(x)-(y)-(xx)-(z). The first four legs of this pattern must have completed. The Ripple price should be rising in the final motive wave (z), which is a triple zigzag, like waves (w) and (y). The market should soon grow above level 0.583.

Trading plan for [XRPUSD][2] today:

Buy 0.533, TP 0.583

Elliott wave Ethereum analysis

There is developing the upward impulse wave 5 composed of five motive waves. There is developing the corrective wave [iv] as a double zigzag (w)-(x)-(y). The sub-waves (w) and (x) have completed as zigzags. Therefore, the Ethereum price could be running down in the final wave (y), which could end at a level of around 1652.00, the low where the (w) wave completed.

Trading plan for  [ETHUSD][3] today:

Sell 1938.83, 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-19022021&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-19022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus