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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (05 April 2021)

2021-04-05

2021-04-05

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 05.04.2021Roman 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 Ripple market must have finished forming the global correction, so the price should be declining.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming the upward impulse wave [5], namely, its final wave (5) composed of the sub-waves 1-2-3-4-5. By late March 2021, the market had finished the down corrective wave 4 as a double zigzag [W]-[X]-[Y]. Next, the price rose in impulse wave 5. There must have completed the sub-waves [1]-[2]-[3]-[4] of a smaller degree. The final wave [5] has just started unfolding. The price should be rising to a level of 61800.00, marked by impulse 3.

Trading plan for [BTCUSD][1] today:

Buy 57459.00, TP 61800.00

Elliott wave Ripple analysis

The hourly timeframe of the XRPUSD price chart displays the upward corrective wave B, namely its final leg. Wave B is a large double zigzag, with the [Y] wave developing inside as a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The market has completed the zigzag-shaped linking wave (XX). Next, there have ended the first two sub-waves of the zigzag- shaped motive wave (Z), they are impulse A and a small correction B. The upward wave C must have completed as an ending diagonal. Therefore, the price should be declining in the initial part of the new bearish trend. The target for sell trades is at the previous low of 0.560, made by wave [4].

Trading plan for [XRPUSD][2] today:

Sell 0.679, TP 0.560

Elliott wave Ethereum analysis

The ETHUSD price chart displays the final section of the impulse upwave C, with impulse [5] developing inside. In impulse [5], there has recently completed the corrective wave (4), composed of the sub-waves W-X-Y. Next, the market has started rising in wave (5). Wave (5) is a bullish five-wave impulse 1-2-3-4-5. The first four parts of the impulse must have completed, so, the price should be soon rising in the final sub-wave 5 to a level of 2170.00. Next, the price should turn down and start declining. One could consider buy trades in the current situation.

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

Buy 2027.51, TP 2170.00

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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-05042021&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-05042021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus