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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (26 February 2021)

2021-02-26

2021-02-26

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 26.02.2021Roman 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 Ripple market structures correlate. Both cryptocurrencies are forming the middle part of the bearish double zigzag.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The first three sub-waves 1-2-3 have completed in the new upward impulse wave. There is unfolding the corrective wave 4 as a double zigzag [W]-[X]-[Y]. There should be developing the upward linking wave [X], which is also a double zigzag (w)-(x)-(y) of a smaller degree. The sub- waves (w) and (x) look complete, so the market could be rising in the final motive wave (y) to a level of 54950.00.

Trading plan for [BTCUSD][1] today:

Buy 47059.50, TP 54950.00

Elliott wave Ripple analysis

Over the past month, the XRPUSD market has formed two sub-waves of a large down zigzag [A]-[B]-[C]. The sub-wave [A] is a bearish impulse, and the [B] correction is a bullish triple zigzag. Therefore, the market is now declining in the [C] impulse, which is composed of the sub-waves (1)-(2)-(3)-(4)-(5). The first four parts of the impulse have completed, and there should be unfolding the final wave (5) down to a level of 0.333 or lower.

Trading plan for [XRPUSD][2] today:

Sell 0.434, TP 0.333

Elliott wave Ethereum analysis

Aссording to the structure of the most recent chart section, the ETHUSD market is forming a new bearish trend, according to the structure of the most recent chart section. There could be forming the initial part of the double zigzag [W]-[X]-[Y]. The first sub-wave of this zigzag looks complete. There is now developing the upward linking wave [X] as a zigzag (a)-(b)-©. Over the next few days, the Ethereum price can be rising in the impulse wave © to a level of 1800.00. Next, the market could turn down and start declining.

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

Buy 1482.31, TP 1800.00

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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-26022021&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-26022021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus