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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (2 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 market continues rising. The ETHUSD could go up a little higher than previously expected.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The most recent BTCUSD chart section displays the structure of the final leg of the upward impulse wave (C). The sideways corrective wave 4 must have completed as a double three [W]-[X]-[Y]. The Bitcoin price is now rising in wave 5. The market could go up to a level of 51100.00. Next, the market should turn down and start declining. One could enter buy trades in the current situation.

Trading plan for BTCUSD today:

Buy 49387.74, TP 51100.00

Elliott wave Ripple analysis

During the last two weeks, the market has been forming the corrective wave [4]. Wave [4] must have completed, it is composed of sub-waves (A)-(B)-(C). The price is now rising in wave [5], which could end at a level of 1.402. Wave [5] will conclude the linking wave (X) of a larger degree. After the indicated level is reached, there should start a new bearish wave. One could enter buy trades in the current situation.

Trading plan for XRPUSD today:

Buy 1.241, TP 1.402

Elliott wave Ethereum analysis

The ETHUSD market is forming the upward wave [C] as an impulse (1)-(2)-(3)-(4)-(5). There is now developing the final leg of the [C] impulse, sub-wave (5). Wave (5) could be a five-wave impulse 1-2-3-4-5, as outlined in the chart. The Ethereum price should continue rising to a level of 1-2-3-4-5, forming sub-waves [4]-[5]. Next, the market could down a little in correction 4. One could open purchases in the current situation.

Trading plan for ETHUSD today:

Buy 3750.11, TP 3950.00

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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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