Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (29 September 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.
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  as a zigzag (A)-(B)-(C). The Ripple price should continue declining in the bearish wave  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  and  completed inside. The Ethereum price should continue falling in impulse  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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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.