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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (22 February 2021)

2021-02-22

2021-02-22

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 22.02.2021Roman 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 ETHUSD should be growing in the impulse waves. XRPUSD is expected to form a bullish zigzag.

The article covers the following subjects:

Elliott wave Bitcoin analysis

After the corrective wave (4) finished, the market has started rising in the bullish impulse wave composed of the sub-waves 1-2-3-4-5. There is now developing impulse wave 3. The first four sub-waves of wave 3 must have completed. Correction [4] has recently completed as a skewed triangle. There is now unfolding the fourth leg of the bullish impulse [5]. The corrective price movement should end soon, and the market will resume rising in wave (5) to a level of 62100.00.

Trading plan for [BTCUSD][1] today:

Buy 55848.00, TP 62100.00

Elliott wave Ripple analysis

The market continues forming the middle leg of the large upward zigzag [A]-[B]-[C]; the deep corrective wave [B] is unfolding. Correction [B] is developing as a triple zigzag (w)-(x)-(y)-(xx)-(z). The linking wave (xx) must have finished as a triple zigzag. In the medium term, there should be forming the zigzag-shaped wave (z) to a level of 0.670. An approximate trajectory of the Ripple future price movement is outlined in the chart.

Trading plan for [XRPUSD][2] today:

Buy 0.520, TP 0.670

Elliott wave Ethereum analysis

The ETHUSD is forming the bullish impulse wave, like the BTCUSD. The chart displays the final leg of the corrective wave 4, which is a triangle. After wave 4 finished, the price has started rising in impulse wave 5. There is developing the final sub-wave of impulse 5, wave [v]. There should be unfolding sub-waves (iii)-(iv)-(v), driving the price to a level of 2300.00, as outline in the chart. One could enter long positions in the current situation.

Trading plan for  [ETHUSD][3] today:

Buy 1853.90, TP 2300.00

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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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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-22022021&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-22022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus