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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (16 March 2021)

2021-03-16

2021-03-16

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 16.03.2021Roman 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 should have completed the corrective waves, so the prices should be rising in impulse waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is now rising in the upward impulse wave. There have finished the two first small sub-waves [1] and [2]. Next, the market has started forming a more powerful impulse wave [3]. The bearish corrective wave (4) can have completed as a zigzag. It signals the market should start rising in impulse wave (5). The nearest target for purchases is at level 58116.00, marked by a small impulse wave 3.

Trading plan for [BTCUSD][1] today:

Buy 54102.50, TP 58116.00

Elliott wave Ripple analysis

The XRPUSD market is forming the corrective wave (D) as a simple downward zigzag [A]-[B]-[C]. The bearish impulse wave [A] has completed, and the market has started moving sideways in correction [B], which is unfolding as a contracting triangle. The first four legs of the triangle have completed, so the price should be rising in the final sub-wave (E) up to the resistance level and level 0.482.

Trading plan for [XRPUSD][2] today:

Buy 0.436, TP 0.482

Elliott wave Ethereum analysis

The ETHUSD market is forming the upward impulse wave C, with the final fifth wave unfolding inside. There is forming the final leg of the fifth sub-wave, impulse (5). Impulse (5) is composed of the sub-waves 1-2-3-4-5. The down corrective wave 4 has completed as a zigzag [a]-[b]-[c]. Therefore, the market should be rising in sub-wave 5. The first target to enter trades is level 1940.00, marked by the impulse wave 3.

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

Buy 1735.53, TP 1940.00

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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-16032021&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-16032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus