Logo

Posts

Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (5 March 2021)

2021-03-05

2021-03-05

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 05.03.2021Roman 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.

Bitcoin and Ethereum have finished forming linking up waves. Therefore, the prices should be going down in the final motive sub-waves of double zigzags over the next few days.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming a downward double zigzag [W]-[X]-[Y]. The market has started declining, as it is clear from the most recent chart section. So, the linking wave [X] must have completed as a simple zigzag (a)-(b)-©. Therefore, the price should be declining in the final motive wave [Y] over the next few days. The first target for sell trades is level 43060.00 market by wave [W]. Next, the price will continue declining to lower levels.

Trading plan for [BTCUSD][1] today:

Sell 47168.50, TP 43060.00

Elliott wave Ripple analysis

The extended correction (4) within the bearish impulse [C] must have finished. Wave (4) is composed of the sub-waves w-x-y, where final sub- wave y is a bullish double zigzag [w]-[x]-[y]. Therefore, there is unfolding the final leg of the down wave (5). The price should be moving down to the previous low at 0.390, marked by wave x. Next, the price will continue declining to a lower level. One could enter sell trades in the current situation.

Trading plan for [XRPUSD][2] today:

Sell 0.462, TP 0.390

Elliott wave Ethereum analysis

The ETHUSD is also forming a bearish double zigzag, like the BTCUSD. The linking up wave X seems to have competed, having formed a zigzag (a)-(b)-©. The market is now declining in the final motive wave Y. The price should soon reach level 1285.00, marked by wave W, and continue declining. One should enter short trades in the current situation.

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

Sell 1473.12, TP 1285.00

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” :)

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker [here][4]. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while [depositing][5] your trading account.
  • Telegram chat for traders: . We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

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.

Rate this article:

{{value}}

( {{count}} {{title}} )

  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-05032021&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-05032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus