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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (31 March 2021)

2021-03-31

2021-03-31

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 31.03.2021Roman 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.

Ripple must have finished forming the corrective wave, there is developing the initial part of the bearish impulse.

The article covers the following subjects:

Elliott wave Bitcoin analysis

There is forming the final leg of the upward impulse wave 1-2-3-4-5. There is forming wave 5. The upward impulse wave [3] must have completed, so the price should be declining in wave [4]. The price is likely to go down to level 56938.00. Next, the price will resume rising in wave [5] to a level of 65000.00. One could enter short trades in the current situation.

Trading plan for [BTCUSD][1] today:

Sell 58640.00, TP 56938.00

Elliott wave Ripple analysis

The Ripple price chart must have completed forming the ending diagonal 1-2-3-4-5. Therefore, there is forming the beginning of the bearish wave C, which should be a simple impulse [1]-[2]-[3]-[4]-[5]. If the presumption is correct, the Ripple price should be declining over the next few days. The price could go down to level 0.472, marked by the corrective wave (2).

Trading plan for [XRPUSD][2] today:

Sell 0.549, TP 0.472

Elliott wave Ethereum analysis

After the corrective wave 4 finished in the ending diagonal 1-2-3-4-5, there has started developing the final zigzag [a]-[b]-[c]. Based on the market structure, the first impulse wave [a] of this zigzag must have completed. The Ethereum price should be declining in the corrective wave [b]. The [b] correction should be short and could end at a level of 1752.00. Next, the ETHUSD price should resume growing in the impulse wave [c], as outlined in the chart. One could enter sell trades in the current situation.

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

Sell 1821.80, TP 1752.00

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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-31032021&openPopup=%2Fregistration%2Fpopup&utm_source=blog&utm_medium=article&utm_campaign=bonus
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