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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (23 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.

The cryptocurrency prices should continue declining.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues forming a descending impulse. Sub-waves 1 and 2 completed. There is unfolding the third wave as a bearish impulse [1]-[2]-[3]-[4]-[5]. Sub-waves [1]-[2] must have completed, so the market will continue declining in the down wave [3] to a level of 37233.00. Therefore, one should enter short trades at the current levels.

Trading plan for BTCUSD today:

Sell 44174.00, TP 37233.00

Elliott wave Ripple analysis

The XRPUSD market continues forming the bearish impulse wave. Sub-waves 1 and 2 have finished, and there is forming the initial part of the third wave. There have completed sub-waves [1]-[2] and (1)-(2) of a smaller degree. The Ripple price should be declining in wave (3) to a level below 0.805. An approximate trajectory of the Ripple future price movement is outlined in the chart.

Trading plan for XRPUSD today:

Sell 1.005, TP 0.805

Elliott wave Ethereum analysis

The ETHUSD market is forming the initial part of the down impulse 1-2-3-4-5. It has been half-complete. The bearish impulse wave 3 is now developing; it is composed of sub-waves [1]-[2]-[3]-[4]-[5]. Sub-wave [3] should end at a level of 2520.00. Next, the price will go up a little in correction [4] and continues declining in wave [5]. I recommend selling the pair in the current situation.

Trading plan for ETHUSD today:

Sell 3112.94, TP 2520.00

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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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