Short-term forecast for BTCUSD, XRPUSD and ETHUSD 10.12.2021

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 Ethereum could have completed the bullish linking wave X, so the price should be falling.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming a descending simple zigzag [A]-[B]-[C], with the first sub-wave [A] completed inside. There is developing the upward corrective wave [B] as a simple zigzag (A)-(B)-(C). Wave (A) has completed as a leading diagonal. The corrective wave (B) could have also completed as a simple zigzag A-B-C. The Bitcoin price should be rising to a level of 55050.00, where wave [B] will retrace the [A] wave by 50%.

Trading plan for BTCUSD today:

Buy 48247.50, TP 55050.00

Elliott wave Ripple analysis

The XRPUSD market is forming a large zigzag-shaped wave (Y), with sub-wave A completed as a simple impulse and upward correction B unfolding as a double zigzag [W]-[X]-[Y] inside. The first motive wave [W] must have completed, and the descending linking wave [X] should soon end. Next, the Ripple price will be rising in the final motive wave [Y] to a level of 1.053, as outlined in the chart. At the indicated level, wave B will retrace the A wave by 61.8%.

Trading plan for XRPUSD today:

Buy 0.847, TP 1.053

Elliott wave Ethereum analysis

Double zigzag W-X-Y is developing at the most recent section of the ETHUSD chart. The bearish motive wave W has completed, as well as the zigzag-shaped linking wave X. If the presumption is correct, the market will be declining in the initial part of the final wave Y. The first target for take-profit is at a level of 3906.50, marked by correction [B].

Trading plan for ETHUSD today:

Sell 4126.81, TP 3906.50

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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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