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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 [1]-[2] 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

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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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