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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (11 March 2021)

2021-03-11

2021-03-11

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.03.2021Roman 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 Ripple market should be developing a bullish impulse over the next few days. Bitcoin and Ethereum are forming bearish corrective waves, which should conclude the large zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD chart displays the downward double zigzag [W]-[X]-[Y] currently unfolding. The second sub-wave, the linking wave [X], must have completed as a simple zigzag (A)-(B)-©. Therefore, there should be unfolding the final motive wave [Y] in the next few days. The nearest target to enter sell trades is level 49220.00, marked by the corrective sub-wave 4.

Trading plan for [BTCUSD][1] today:

Sell 55928.00, TP 49220.00

Elliott wave Ripple analysis

The XRPUSD market is forming the middle part of the simple zigzag [A]-[B]-[C]. That is, there is unfolding the corrective wave [B]. The market must have completed the bearish correction (B) as a double three. The price should be rising in impulse wave C to a level of 0.520 in the near future. At the indicated level, the [B] correction will reach the Fibonacci ratio of 50% of the [A] impulse. This ratio is highly likely to be reached.

Trading plan for [XRPUSD][2] today:

Buy 0.455, TP 0.520

Elliott wave Ethereum analysis

The hourly ETHUSD price chart displays the downward double zigzag currently unfolding. There have completed the two sub-waves, W and X, and the final sub-wave Y has just started forming. Therefore, over the next few days, the ETHUSD price should be declining. The nearest target for sell trades is level 1660.00, where a small corrective wave (4) finished.

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

Sell 1810.52, TP 1660.00

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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-11032021&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-11032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus