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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (29 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.

Bears are going ahead, the cryptocurrency prices should continue declining.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market continues declining in the new bearish wave unfolding as an impulse. The hourly timeframe displays the structure of sub-wave 1, which is an impulse, and the structure of the corrective wave 2 completed as a zigzag (A)-(B)-(C). The Bitcoin price is to continue falling in impulse 3 to a level below 39500.00. I recommend entering sell trades. 

Trading plan for BTCUSD today:

Sell 42105.50, TP 39500.00

Elliott wave Ripple analysis

The XRPUSD market is forming a new impulse down wave as an element of a larger corrective wave. After the first two sub-waves 1 and 2 completed, the market continued falling in the third wave, unfolding as an impulse. There should have completed corrective wave [2] as a zigzag (A)-(B)-(C). The Ripple price should continue declining in the bearish wave [3] to a level below 0.805. 

Trading plan for XRPUSD today:

Sell 0.915, TP 0.805

Elliott wave Ethereum analysis

The ETHUSD market is forming the new bearish wave, like other cryptocurrencies covered in the article. There should be forming a descending impulse. The market is now forming the beginning of the third wave, with sub-waves [1] and [2] completed inside. The Ethereum price should continue falling in impulse [3] to a level below 2643.00. One could enter short trades in the current situation.

Trading plan for ETHUSD today:

Sell 2893.83, TP 2643.00

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

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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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