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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (23 February 2021)

2021-02-23

2021-02-23

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 23.02.2021Roman 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 Bitcoin and Ethereum must have completed the impulse waves. Therefore, the BTCUSD and the ETHUSD should be declining in the corrective waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The market must have finished the long upward impulse 3, composed of five sub-waves, and the Bitcoin price is declining in the corrective wave 4. Wave 4, according to its inner structure, is unfolding as double zigzag [w]-[x]-[y]. In the near future, there should be developing wave [y] to a level 45770.00, which is the low made by the correction [4]. Next, the market should start rising in the impulse wave.

Trading plan for [BTCUSD][1] today:

Sell 52083.00, TP 45770.00

Elliott wave Ripple analysis

There continues forming the corrective wave [B] as a triple zigzag. The sub-waves (w)-(x)-(y)-(xx) have been completed. The second linking wave (xx) is a triple zigzag. There is forming the bullish wave (z) as a standard zigzag a-b-c. The down correction b should soon end, and the price will start rising in the final impulse c to a level of 0.670, as it is outlined in the chart.

Trading plan for [XRPUSD][2] today:

Buy 0.539, TP 0.670

Elliott wave Ethereum analysis

The market must have finished the upward impulse wave C, which is a part of the global zigzag A-B-C. Over the next few weeks, there should be forming a new bearish trend. Based on the initial part o the down wave, there is forming a zigzag-shaped wave [W], which is the first sub-wave in a double or triple zigzag. Impulse wave (A) and correction (B) look complete, and the © impulse is still forming. It could end at a level 1480.00, where correction (iv) ended. Next, the Ethereum price should start rising in the linking wave [X].

Trading plan for [ETHUSD][3] **** today:

Sell 1696.42, TP 1480.00

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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-23022021&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-23022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus