Ultimate magazine theme for WordPress.

Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (12 October 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.

Bitcoin and Ethereum should soon finish the third sub-waves in large impulses. Ripple seems to have completed the bearish correction and should soon start rising in the impulse.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market must be forming correction [B] as a simple zigzag (A)-(B)-(C). The first two legs of the zigzag have finished, and there is unfolding its final leg, impulse wave (C). Sub-waves 1 and 2 have completed in the (C) impulse, sub-wave 3 is still developing. The Bitcoin price should continue rising in sub-wave [5], which will conclude impulse 3 around the level of 59500.00. Next, the market will be declining in corrective wave 4, as outlined in the chart

Trading plan for BTCUSD today:

Buy 56746.50, TP 59500.00

Elliott wave Ripple analysis

The XRPUSD market continues forming the descending corrective trend as the double zigzag W-X-Y. There is developing the upward linking wave X as a simple zigzag [A]-[B]-[C], with impulse wave [C] unfolding inside. In the [C] wave, bearish correction (4) has completed, so the price should be rising in wave (5) to a level of 1.276. At this level, wave X will be 76.4% of wave W. One could enter long trades in the current situation. 

Trading plan for XRPUSD today:

Buy 1.089, TP 1.276

Elliott wave Ethereum analysis

The ETHUSD market is rising in corrective wave B composed of three major sub-waves [A]-[B]-[C]. There is developing the bullish impulse wave [C] composed of sub-waves (1)-(2)-(3)-(4)-(5). There must be forming the final leg of the upward impulse (3), which will end at a level of around 3750.00. After the price reaches this level, it should start declining in correction (4), as outlined in the chart. One could enter purchases in the current situation.  

Trading plan for ETHUSD today:

Buy 3467.57, TP 3750.00

P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex

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.

Rate this article:

{{value}} ( {{count}} {{title}} )


Source link

Comments are closed, but trackbacks and pingbacks are open.