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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (1 March 2021)

2021-03-01

2021-03-01

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.03.2021Roman 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 XRPUSD market is forming a skewed triangle. When the triangle completes, the market will continue declining. Bitcoin and Ethereum are forming bullish linking waves within the double zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD has completed the global bullish impulse. The chart displays its final wave [5], namely its final leg. Next, there has started a corrective pattern. There is likely to be forming a bearish double zigzag. The first sub-wave [W] must have completed as a double zigzag. Therefore, the market should be rising in the linking wave [X] to a level of 52500.00, where wave [X] will reach the Fibonacci ratio of 61.8% of wave [W].

Trading plan for [BTCUSD][1] today:

Buy 46365.00, TP 52500.00

Elliott wave Ripple analysis

The Ripple market is forming a down simple zigzag, composed of the three major sub-waves [A]-[B]-[C]. The impulse wave [A] finished, and the corrective wave [B] completed as a triple zigzag. The price is now declining in the impulse wave [C]. Its fourth sub-wave seems to be a triangle and is about to end soon. Therefore, when the skewed triangle (4) completes, the price will resume declining in wave (5) to a level of 0.300.

Trading plan for [XRPUSD][2] today:

Sell 0.420, TP 0.300

Elliott wave Ethereum analysis

The Ethereum market has completed a large impulse wave. Next, the price has started declining, following a new corrective pattern. The ETHUSD, like the BTCUSD, is likely to be forming a bearish double zigzag W-X-Y. Wave W must have completed as a standard zigzag, so the market should be rising in the linking wave X to a level of 1710.00, where wave X will reach 61.8% of W, according to Fibonacci retracements. This ratio is highly likely to be reached.

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

Buy 1427.78, TP 1710.00

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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-01032021&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-01032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus