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Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (31 August 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 BTCUSD market seems to be forming the final leg of the impulse as an ending diagonal.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the final impulse wave (C) of the ascending zigzag-shaped correction [B]. The final, fifth, wave of the (C) impulse seems to be unfolding as an ending diagonal [1]-[2]-[3]-[4]-[5]. Wave [4] has finished further than wave [1]. The Bitcoin price could be rising in the final wave [5] to a level of 51100.00. One could enter purchases in the current situation.

Trading plan for BTCUSD today:

Buy 47125.50, TP 51100.00

Elliott wave Ripple analysis

The most recent section of the XRPUSD chart displays the final leg of the impulse up wave C. In the C wave, the bearish correction [4] must have completed as a simple zigzag composed of sub-waves (A)-(B)-(C). The Ripple price should be rising in sub-wave [5] to a level of 1.402. One could open buy positions in the current situation.

Trading plan for XRPUSD today:

Buy 1.123, TP 1.402

Elliott wave Ethereum analysis

The ETHUSD market is forming the impulse up wave [C] composed of sub-waves (2)-(3)-(4)-(5). Corrective wave (4) has completed as a flat A-B-C. There is developing the final wave (5), which will finish when sub-waves 3-4-5 complete. An approximate trajectory of Ethereum future price movement is outlined in the chart. The price should go up to a level of 3670.00. It is relevant to buy under the current conditions.

Trading plan for ETHUSD today:

Buy 3237.81, TP 3670.00

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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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