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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (12 April 2021)

2021-04-12

2021-04-12

Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.04.2021Roman 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.

Ripple continues rising to a higher level than earlier expected.

The article covers the following subjects:

Elliott wave Bitcoin analysis

There is now should be unfolding the fifth wave of the global impulse as an ending diagonal [1]-[2]-[3]-[4]-[5]. The price is now rising in the corrective wave [3], which is developing as a regular zigzag (A)-(B)-©. Wave (A) is an impulse; correction (B) is a double zigzag; wave © is also an impulse 1-2-3-4-5, still unfolding. The market must have completed the sideways triangle correction 4, so the price should be rising in wave 5 of a smaller degree to a level of 63350.00. One could enter purchases in the current situation.

Trading plan for [BTCUSD][1] today:

Buy 59795.50, TP 63350.00

Elliott wave Ripple analysis

It is clear from the eight-hour XRPUSD price chart that corrective wave B has completed as a triple zigzag. Next, the market has started forming the bullish impulse [1]-[2]-[3]-[4]-[5]. Corrective wave 4 has recently completed as a triangle; next, the price has moved sharply in wave [5]. There could be developing wave (3), which should be followed by a short correction (4) as outlined in the chart. In the current situation, one could enter long positions with a target at 1.730.

Trading plan for [XRPUSD][2] today:

Buy 1.335, TP 1.730

Elliott wave Ethereum analysis

The ETHUSD price is rising in impulse wave C, namely, in its final leg. There is now forming the upward impulse wave (5). The first four legs of wave (5) look complete. There is now unfolding bullish wave 5 as an impulse. The market could have finished forming a short triangle correction [4], so the price should be rising in wave [5] of a smaller degree to a level of 2300.00. One could enter buy trades in the current situation.

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

Buy 2132.92, TP 2300.00

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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-12042021&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-12042021&promo_code=BLOG&utm_source=blog&utm_medium=article&utm_campaign=bonus