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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (18 March 2021)

2021-03-18

2021-03-18

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 18.03.2021Roman 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 Ethereum seems to be forming a deeper correction than it was expected in previous forecasts; this correction is about to finish now. Next, the ETHUSD market will be forming the final impulse.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The most recent chart section displays the structure of the upward impulse wave [3]. Within this wave, there has recently completed the bearish corrective wave (4) a standard zigzag. Next, the market has completed forming two small sub-waves 1 and 2 of the bullish impulse wave (5). The market is now rising in wave 3, which could end at a level of around 66300.00. Next, the price will slightly decline in correction 4, as it is outlined in the chart.

Trading plan for [BTCUSD][1] today:

Buy 58877.50, TP 66300.00

Elliott wave Ripple analysis

There is forming a simple down zigzag [A]-[B]-[C], with the impulse wave [A] and corrective wave [B] completed inside. Correction [B] has a complex structure of a triple zigzag (W)-(X)-(Y)-(X)-(Z). After the indicated formation completed, the market has formed two small sub-waves (1) and (2), which are the elements of the bearish impulse wave [C]. If the assumption is correct, and the correction (2) has completed its pattern, the price should be declining in impulse (3). The first target to enter sell trades is the low at 0.424, marked by wave (XX).

Trading plan for [XRPUSD][2] today:

Sell 0.471, TP 0.424

Elliott wave Ethereum analysis

Ethereum continues forming a large upward impulse C, with the final, fifth, leg unfolding inside. In wave [5], there is forming the sub-wave (5), which also has an impulse structure. Most likely, there is unfolding the bearish correction 4 as a simple zigzag. Impulse [a] and correction [b] have completed. The price should be declining in the final bearish impulse [c] towards a level of 1705.00. Next, the market could turn up and start rising. Under the current conditions, one could enter sell trades.

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

Sell 1829.35, TP 1705.00

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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-18032021&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-18032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus