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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (24 February 2021)

2021-02-24

2021-02-24

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 24.02.2021Roman 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 should be forming bearish double zigzags over the next few days.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming an uptrend as an impulse. The daily chart displays the middle leg of this impulse, wave 3, which looks complete. The price is now declining in corrective wave 4, which could end as a double zigzag [W]-[X]-[Y]. The sub-wave [W] has finished, so the market should be soon rising in the linking wave [X] to a level of 54950.00. It is relevant to enter long positions in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 50271.50, TP 54950.00

Elliott wave Ripple analysis

After the upward linking wave (X) finished, the Ripple market has started a new corrective pattern. There is forming a bearish zigzag, where impulse [A] and a long correction [B] have finished. Wave [B] is a triple zigzag (w)-(x)-(y)-(xx)-(z). The market is now declining in an impulse. The sub-waves (1)-(2)-(3) have been formed, and a short corrective wave (4) should soon end, followed by impulse 5. The target for sell trades will be the previous low at 0.333, made by wave [A].

Trading plan for [XRPUSD][2] today:

Sell 0.491, TP 0.333

Elliott wave Ethereum analysis

The ETHUSD market situation is similar to the Bitcoin. The large impulse wave C ended. Next, the market has started declining in a corrective wave, which is likely to complete as a double zigzag [W]-[X]-[Y]. The first part of this double zigzag, sub-wave [W], has finished. Therefore, the Ethereum price should be rising in the linking wave [X] to the previous high made by the (b) correction, level 1970.00.

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

Buy 1622.60, TP 1970.00

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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-24022021&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-24022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus