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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (06 April 2021)

2021-04-06

2021-04-06

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 06.04.2021Roman 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.

Bitcoin and Ethereum are following the scenario earlier suggested. The Ripple market has changed the expected trajectory. Let us explore the market situation for each pair in more detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

Bitcoin continues developing the upward impulse wave 5 of a smaller degree. Wave 5 is composed of five sub-waves [1]-[2]-[3]-[4]-[5]. The first four parts of this impulse have completed. After the zigzag-shaped correction [4] finished, the price has started growing in the final wave [5], which could end as a simple impulse. Wave [5] could conclude a larger impulse [5] at a level of around 61800.00. This is the previous high made by wave 3. One could enter buy trades in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 58811.50, TP 61800.00

Elliott wave Ripple analysis

A sharp movement of the XRPUSD market suggests that there is developing a bullish impulse, so the previous scenario is canceled. The market should be forming the impulse wave [1]-[2]-[3]-[4]-[5], with the middle part, impulse [3], developing inside. There should be forming the upward wave (3) within wave [3] of a larger degree. An approximate trajectory of the Ripple future price movement is outlined in the chart. The market should be rising to a level of 0.965. Next, the price could start declining in a corrective wave.

Trading plan for [XRPUSD][2] today:

Buy 0.878, TP 0.965

Elliott wave Ethereum analysis

The ETHUSD market situation is similar to that of the BTCUSD. The market is forming bullish impulse (5), concluding a larger impulse wave [5] of С. The first four legs of wave (5) seem to have completed. The price is now rising in the final wave 5. The market is likely to reach level 2250.00. Next, the market should turn down and start declining to a level around the previous low. One could enter long trades with a target profit at the end of the C impulse.

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

Buy 2123.84, TP 2250.00

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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-06042021&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-06042021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus