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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (4 March 2021)

2021-03-04

2021-03-04

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 04.03.2021Roman 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.

There are forming bullish double zigzags at the most recent chart sections of the three cryptocurrency pairs covered in the article. Let us examine the market situation for each pair in more detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

At the time of writing, the BTCUSD market is forming the upward linking wave [X], which is an element of the descending double zigzag [W]-[X]-[Y]. The [X] wave is also unfolding as a double combination (w)-(x)-(y). The sub-waves (w) and (x) have completed, and there is forming the final impulse wave c, which should conclude wave (y). The price could reach level 54740.00, where wave [X] will be 76.4% of wave [W], which is also a double zigzag.

Trading plan for [BTCUSD][1] today:

Buy 49595.00, TP 54740.00

Elliott wave Ripple analysis

After the upward corrective wave [B] finished as a triple zigzag, the market has started declining in the final impulse wave. There have completed the sub-waves (1)-(2)-(3). There is now forming a long corrective wave (4), which seems to be unfolding as a double three w-x-y. There have completed the two first parts of this formation, and the final sub-wave y is still developing. Wave y could end as a double zigzag [w]-[x]-[y], like the x wave. The market should be rising in the impulse © of [y] towards the previous high at 0.498, made by wave w.

Trading plan for [XRPUSD][2] today:

Buy 0.439, TP 0.498

Elliott wave Ethereum analysis

The ETHUSD is forming a double zigzag, namely its middle part, the linking wave X. Wave X should be unfolding as a double zigzag [w]-[x]-[y]. The first two sub-waves [w] and [x] have completed, and there is developing the final impulse wave © of the zigzag-shaped wave [y]. Most likely, the Ethereum price will move in the © impulse to the level of 1745.00, where wave X will reach 61.8% Fibonacci level of wave W.

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

Buy 1552.23, TP 1745.00

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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-04032021&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-04032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus