Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (29 June 2021)
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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 cryptocurrencies could depreciate in the next few days. Therefore, it is relevant to sell.
The article covers the following subjects:
Elliott wave Bitcoin analysis
The BTCUSD market continues forming the impulse down wave [A]. After the corrective wave (4) completed as a complex pattern composed of sub-waves W-X-Y, the price started declining in the impulse wave (5). There could be unfolding the sideways corrective wave 4 as a flat [A]-[B]-[C]. Wave 4 should end soon, and the market will resume falling to a level of the previous low 28750.00. One could enter sell trades in the current situation.
Trading plan for BTCUSD today:
Sell 34912.50, TP 28750.00
Elliott wave Ripple analysis
There continues forming the impulse down wave C, which should conclude the global bearish zigzag (W), composed of five sub-waves ----. After the zigzag-shaped correction  completed, the market has started forming the impulse wave . There must be developing the final wave of wave . The market should be declining in impulse  of a smaller degree to a level of 0.500. One could enter short trades in the current situation.
Trading plan for XRPUSD today:
Sell 0.653, TP 0.500
Elliott wave Ethereum analysis
The ETHUSD market continues forming the impulse down wave A, which is the beginning of a larger bearish zigzag. After the corrective wave  completed, the market has started declining in the bear impulse . Correction (4) composed of three sub-waves W-X-Y may have completed within wave . Therefore, the Ethereum price should be declining in the final fifth wave to a level of 1700.00, which is the previous low.
Trading plan for ETHUSD today:
Sell 2114.74, 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.