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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (12 March 2021)

2021-03-12

2021-03-12

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.03.2021Roman 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.

At the time of writing, Ethereum and Bitcoin are forming the initial parts of final sub-waves in the double zigzags. Ripple has started forming the final impulse in the bullish zigzag.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming a downtrend, which is unfolding as a double zigzag [W]-[X]-[Y]. The bearish wave [W] has finished as a double zigzag, and the upward linking wave [X] has also completed. The market has recently started developing the final motive wave [Y]. It is yet unclear which form will take the [Y] in the end. The market should be declining to a level below 52940 in the near future.

Trading plan for [BTCUSD][1] today:

Sell 56583.50, TP 52940.00

Elliott wave Ripple analysis

Ripple is forming a simple bearish zigzag [A]-[B]-[C]. There is forming the upward corrective wave [B] as a simple zigzag (A)-(B)-©. The market could have completed the sideways correction (B) as a double three, and there is unfolding the initial part of the upward impulse wave ©. The © could drive the price to a level of 0.520, where the [B] correction will be 50% of the [A] impulse.

Trading plan for [XRPUSD][2] today:

Buy 0.453, TP 0.520

Elliott wave Ethereum analysis

Ethereum continues forming a double downward zigzag W-X-Y. The linking upwave X must have finished as a simple zigzag [A]-[B]-[C]. Next, the market has turned down and started forming the final down wave Y. The price should be declining to a level below 1660.00, marked by correction (4). One could enter sell trades in the current situation.

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

Sell 1795.08, 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-12032021&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-12032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus