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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (22 March 2021)

2021-03-22

2021-03-22

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 22.03.2021Roman 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 are forming final impulse sub-waves in the downward zigzags. Therefore, the prices should be declining in the near future.

The article covers the following subjects:

Elliott wave Bitcoin analysis

Like in the previous trading week, the BTCUSD is developing the upward impulse wave 5, with the bullish impulse [3] recently completed inside. There is now forming the bearish correction [4], composed of three major sub-waves (A)-(B)-©. The price should be declining in the final sub- wave © to a level of 53161.91, marked by the impulse wave (A). One could enter sell trades in the current situation.

Trading plan for [BTCUSD][1] today:

Sell 57696.42, TP 53161.91

Elliott wave Ripple analysis

The hourly timeframe displays the structure of the [Y] wave, which is a part of the large corrective wave B. The [Y] wave is a simple zigzag (A)-(B)-©, where wave (B) is a complex correction shaped like a double zigzag. There is now forming the upward impulse wave ©, namely its third impulse wave 3. Wave 3 should complete soon. Next, the price should go down a little in correction 4, and then, the market will rise in wave 5 to a level of 0.645.

Trading plan for [XRPUSD][2] today:

Buy 0.511, TP 0.645

Elliott wave Ethereum analysis

The ETHUSD is forming the bearish corrective wave 4, which is an element of the upward impulse. Correction 4 is a standard zigzag-shaped pattern, composed of the sub-waves [a]-[b]-[c]. This pattern should end soon. Impulse [c] is likely to finish at a level of 1704.44, marked by the [a] impulse. Next, the market will resume rising. One could enter sell trades in the current situation.

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

Sell 1781.38, TP 1704.44

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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-22032021&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-22032021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus