Short-term forecast for BTCUSD, XRPUSD and ETHUSD 02.11.2021

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.

Small impulse waves should be developing for all cryptocurrencies covered in the article.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the final part of corrective wave [B] composed of three sub-waves, two of which have completed, and one cannot see them in the chart. There is developing the final upward wave (C) as a bullish impulse 1-2-3-4-5. Correction 4 is currently forming as a triple zigzag, which should soon be concluded by sub-wave [Z]. The Bitcoin price should be declining in the impulse wave (C) of a smaller degree to a level of 57240.00, where wave [Z] will be 76.4% of wave [Y].

Trading plan for BTCUSD today:

Sell 61531.00, TP 57240.00


Elliott wave Ripple analysis

The XRPUSD market is forming the linking wave X as a triple zigzag. The first four sub-waves of this large corrective trend have finished. The final motive wave [Z] is still developing as a zigzag (A)-(B)-(C). Impulse (A) and correction (B) have completed, and the final impulse wave () has just started developing. The Ripple price should be rising in impulse (C) to a level of 1.157, as outlined in the chart.

Trading plan for XRPUSD today:

Buy 1.095, TP 1.157


Elliott wave Ethereum analysis

Like the BTCUSD, the ETHUSD market is forming corrective wave B, with the final leg, impulse [C], unfolding inside. Impulse [C] is composed of five sub-waves (1)-(2)-(3)-(4)-(5). Correction (4) is currently unfolding, likely, as an expanding triangle A-B-C-D-E. The Ethereum price should be declining in the [C] impulse of a smaller degree to a level of 3882.00, which is the support level where sub-wave C finished.

Trading plan for ETHUSD today:

Sell 4358.70, TP 3882.00


P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

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

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteForex platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex

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.

Rate this article:

{{value}} ( {{count}} {{title}} )

LEAVE A COMMENT

Your email address will not be published. Required fields are marked *