Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.11.2021

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.

Bitcoin and Ethereum should be rising in impulses, and Ripple continues forming the final leg of the double zigzag.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the first sub-wave of the simple bullish zigzag (A)-(B)-(C), large impulse upwave (A). Sub-waves 1-2-3-4 have completed in the (A) wave, the final fifth wave is still developing. Horizontal corrective wave 4 of a smaller degree has recently finished as a double three [W]-[X]-[Y], it is an element of the upward impulse (5) of [5]. The Bitcoin price should go up in a small wave [5] to a level of 73100.00, where wave 5 will be 50% of wave 3.

Trading plan for BTCUSD today:

Buy 67917.50, TP 73100.00

Elliott wave Ripple analysis

The XRPUSD 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 [X] is a flat (A)-(B)-(C). There is now unfolding the upward wave [Y] as a double zigzag (W)-(X)-(Y). Impulse wave A, the first sub-wave of the zigzag-shaped wave (Y), has completed. The market should be declining in correction B; next, the price could be rising in the C impulse to a level of 1.380, as outlined in the chart.

Trading plan for XRPUSD today:

Buy 1.318, TP 1.380

Elliott wave Ethereum analysis

The ETHUSD market is forming the impulse upwave [5] composed of sub-waves (1)-(2)-(3)-(4)-(5). The first four parts of this pattern, sub-waves (1)-(2)-(3)-(4), have finished, and the upward wave (5) is forming. The price could go down a little in correction 4; next, it will continue rising in sub-wave 5 to a level of 4930.00, as outlined in the chart.

Trading plan for ETHUSD today:

Buy 4796.78, 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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