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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (08 April 2021)

2021-04-08

2021-04-08

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 08.04.2021Roman 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 have completed corrective waves. The prices should start rising in impulse waves.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The hourly timeframe of the BTCUSD price chart displays the impulse wave [5] with wave 5 unfolding inside. Wave 5 is composed of the sub-waves [1]-[2]-[3]-[4]-[5] of a smaller degree. The market must have completed the corrective down wave [4] as a simple zigzag (A)-(B)-©. If the assumption is correct, the market should be rising in sub-wave [5] of a smaller degree towards level 61800.00 over the next few days. Level 61800.00 is the previous high. One could enter purchases in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 56593.50, TP 61800.00

Elliott wave Ripple analysis

The most recent section of the XRPUSD price chart displays the upward impulse, which has started after the triangle corrective wave completed. There have completed impulse wave (1) and a short corrective wave (2). There is now unfolding a more extended wave (3) having an impulse structure. The market may have finished declining in correction 4, so the price should be rising in wave 5 to a level of 1.230. One could enter buy trades in the current situation.

Trading plan for [XRPUSD][2] today:

Buy 0.919, TP 1.230

Elliott wave Ethereum analysis

The most recent section of the ETHUSD chart displays the final leg of the bullish impulse C. There is developing sub-wave (5) in the impulse wave [5]. Wave (5) is composed of the sub-waves 1-2-3-4-5. This week, the market seems to have finished the corrective down wave 4 composed of the sub-waves [A]-[B]-[C]. Therefore, the Ethereum price should be rising in sub-wave 5 to a level of 2280.00. It is relevant to enter long positions in the current situation.

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

Buy 1995.28, TP 2280.00

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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-08042021&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-08042021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus