Short-term forecast for BTCUSD, XRPUSD and ETHUSD 01.12.2021

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 is forming the upward corrective wave that soon should end, and the market will start declining.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD is forming a simple bearish zigzag (A)-(B)-(C). After completing the down impulse wave (A), the market has turned up and started rising in correction (B). The (B) correction is unfolding as a zigzag with the impulse wave A composed of sub-waves [1]-[2]-[3]-[4]-[5] and the descending correction B completed inside. Sub-wave C will conclude the zigzag-shaped pattern at a level of 61215.00, where wave (B) will be 50% of the (A) wave.

Trading plan for BTCUSD today:

Buy 57381.50, TP 61215.00

Elliott wave Ripple analysis

The XRPUSD market is forming the final leg of the large contracting triangle A-B-C-D-E, the bullish wave E. Wave E could be a simple zigzag [A]-[B]-[C]. The first sub-wave [A] could end at a level of as a five-wave impulse (1)-(2)-(3)-(4)-(5) at a level around 1.070 marked by correction (B). Therefore, the price should be moving in sub-wave (5) of a smaller degree to a level of 1.070.

Trading plan for XRPUSD today:

Buy 1.009, TP 1.070

Elliott wave Ethereum analysis

The ETHUSD market continues forming the down corrective trend as a double zigzag (W)-(X)-(Y). Linking wave (X) should be longer than earlier expected; it has completed as a double zigzag W-X-Y. The market should be rising in the final motive wave (Y) unfolding as a simple zigzag A-B-C, as outlined in the chart. The impulse wave could complete at a level of 4326.93, marked by correction 4.

Trading plan for ETHUSD today:

Sell 4761.08, TP 4326.93

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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 LiteFinance. 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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