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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (9 March 2021)

2021-03-09

2021-03-09

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.03.2021Roman 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.

Today, Bitcoin and Ethereum should complete the linking up waves. Next, the market will start declining.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming the middle part of the double zigzag [W]-[X]-[Y], the linking wave [X]. Wave [X] is a simple zigzag (A)-(B)-©, which is still unfolding. There is developing the fifth wave of the bullish impulse wave ©. The price could soon reach the level of 54500.00, where the entire linking wave [X] should end. Next, the market should turn down and start declining in the final motive wave [Y].

Trading plan for [BTCUSD][1] today:

Buy 52895.00, TP 54500.00

Elliott wave Ripple analysis

The XRPUSD pair continues forming the final corrective down wave as a simple zigzag [A]-[B]-[C]. The impulse down waves [A] has finished; its final leg is an ending diagonal. The price is now moving the corrective bullish wave [B]. The [B] correction should be a standard zigzag(A)-(B)-©. The (B) wave should end soon, and the price will be rising in the © impulse towards level 0.520. AT the indicated level, wave [B] will be 50% of the impulse wave [A].

Trading plan for [XRPUSD][2] today:

Buy 0.474, TP 0.520

Elliott wave Ethereum analysis

The hourly ETHUSD price chart displays a downtrend developing. There must be forming a bearish double zigzag W-X-Y. The first leg of this zigzag, sub-wave W, has finished. The market is now rising in the linking wave X, which should end soon. Sub wave (5) of the [C] impulse is currently forming. The price could go up to a level of 1883.00. Next, the Ethereum price trend should turn down and start forming bearish wave Y as outlined in the chart. At the indicated level, the impulse wave [C] will be 123.6% of wave [A].

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

Buy 1836.49, TP 1883.00

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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-09032021&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-09032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus