Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.06.2021

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.

Ripple and Ethereum markets began to develop the last sub-waves within the upward double zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

After the completion of the downward impulse wave [1], the market began to move within the corrective wave [2]. This wave is unfolding as a simple zigzag (A) – (B) – (C). Not so long ago, the horizontal corrective wave (B) was completed as a contracting triangle. Then the market continued to rise. There should be unfolding the middle part of the impulse wave (C). Soon, the completion of 3-4-5 sub-waves is expected near the level of 44500.00. At this level, wave [2] will be 50% of wave [1].

Trading plan for BTCUSD today:

Buy 36658.50, TP 44500.00

Elliott wave Ripple analysis

In the long term, the XRPUSD market is developing a downward double zigzag (W) – (X) – (Y). Most likely, a linking wave (X) is close to completion as a W-X-Y double zigzag. Wave Y is currently unfolding as a double zigzag [W] – [X] – [Y] as well. The last sub-wave [Y] is required for the completion of the previously indicated figure. It could end near level 1.153. At this level, wave (X) will be 38.2% of wave (W).

Trading plan for XRPUSD today:

Buy 0.866, TP 1.153

Elliott wave Ethereum analysis

Most likely, the ETHUSD market is currently developing a corrective wave 2 as a simple zigzag [A] – [B] – [C]. The last sub-wave of this zigzag, sub-wave [C], is forming as an ending diagonal (1) – (2) – (3) – (4) – (5). All sub-waves of the ending diagonal are corrective, and the end of wave (4) is longer than the end of wave (1). The last sub-wave (5) is likely to be unfolding as a W-X-Y double zigzag. It is possible that prices will still rise within wave Y to the level of 3027.43, at which correction 2 will be 50% of wave 1.

Trading plan for ETHUSD today:

Buy 2465.35, TP 3027.43

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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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