Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (17 September 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.
Cryptocurrency pairs are declining in the third impulse waves.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market continues forming the impulse down wave. Corrective wave 2 has completed as a triple combination [W]-[X]-[Y]-[X]-[Z]. The downtrend should continue over the next few days. The price will continue falling in wave 3 to a level below 41800.00. One could enter short trades in the current situation.
Trading plan for BTCUSD today:
Sell 48028.50, TP 41800.00
Elliott wave Ripple analysis
It is clear from the most recent section of the XRPUSD price chart that the first two sub-waves 1 and 2 of the new bearish impulse have completed. The market is declining in sub-wave 3. Sub-waves - seem to have completed, and the price should continue falling in the remaining three sub-waves to a level below 0.950. Therefore, one could enter sell trades in the current situation.
Trading plan for XRPUSD today:
Sell 1.097, TP 0.950
Elliott wave Ethereum analysis
There is developing the new down wave as a five-wave impulse 1-2-3-4-5. Corrective wave 2 must have completed as a double three [W]-[X]-[Y]. There is developing impulse 3. The Ethereum price should continue falling in sub-wave to a level below 2895.00. One could enter sell trades in the current situation.
Trading plan for ETHUSD today:
Sell 3569.02, TP 2895.00
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.
- 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.