Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.11.2021

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.

The BTCUSD seems to continue forming the large impulse wave. So, the Bitcoin price should be further rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The previous BTCUSD trading scenario has been slightly corrected, as the market continues rising higher than expected. The impulse upwave (A), composed of sub-waves 1-2-3-4-5, must be further developing. Let us explore the concluding part of the final wave 5. The Bitcoin price had been following corrective wave 4 unfolding as a double three [W]-[X]-[Y] over the previous two weeks. Next, the market started rising in the final bullish impulse wave 5 composed of sub-waves [1]-[2]-[3]-[4]-[5]. The prices could be growing to a level of 73100.00, where sub-wave 5 will be 50% of sub-wave 3.

Trading plan for BTCUSD today:

Buy 68257.00, TP 73100.00

Elliott wave Ripple analysis

The hourly XRPUSD price chart displays the structure of the large linking wave (X), with the final sub-wave unfolding inside as a double zigzag (W)-(X)-(Y). The motive wave (W) and the linking wave (X) have completed, so the Ripple price should be rising in the bullish zigzag-shaped wave to a level above 1.380, as outlined in the chart. One could enter purchases in the current situation.

Trading plan for XRPUSD today:

Buy 1.263, TP 1.380

Elliott wave Ethereum analysis

The ETHUSD hourly timeframe displays the structure of the upward impulse, with the bullish impulse wave 3 unfolding inside. The first four sub-waves [1]-[2]-[3]-[4] have finished within wave 3. The Ethereum price should continue rising in wave 3, which should end at a level of 4930.00. Next, the market will be corrected down in wave 4, as outlined in the chart.

Trading plan for ETHUSD today:

Buy 4799.46, TP 4930.00

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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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