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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (1 July 2021)


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 cryptocurrency pairs ETHUSD, BTCUSD, and XRPUSD could fall down to previous lows. Let us analyze each pair in detail.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues falling in the bearish wave (5). This wave concludes the bearish impulse [A]. Wave (5) is also unfolding as an impulse. In the twenties of June, corrective wave 4 started developing. It seems to have completed as a flat [A]-[B]-[C]. The market should go down in wave 5 to a level of 28750.00, the previous low. One could enter short trades with the target at 28750.00.

Trading plan for BTCUSD today:

Sell 34906.50, TP 28750.00

Elliott wave Ripple analysis

There continues forming the down zigzag-shaped wave (W), with the final impulse wave C unfolding inside. The C wave should finish soon. The price should drop to a level of 0.500 in a small sub-wave 5, which will conclude the entire impulse C. Level 0.500 is the previous low, where impulse wave 3 completed. One could enter short trades in the current situation.

Trading plan for XRPUSD today:

Sell 0.688, TP 0.500

Elliott wave Ethereum analysis

There is forming the final part of the bearish impulse wave A, which is sub-wave [5]. Sub-wave [5] is composed of sub-waves (1)-(2)-(3)-(4)-(5) of a smaller degree, developing as an impulse. Corrective wave (4) may have completed as a zigzag W-X-Y. The price could be declining in the final wave (5) towards the previous low, level 1700.00. One could enter short trades in the current situation.

Trading plan for ETHUSD today:

Sell 2251.32, TP 1700.00

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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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