Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.11.2021

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.

All three cryptocurrency pairs covered in the article should be rising in bullish impulse sub-waves of a smaller degree.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming the impulse upwave (A), with sub-waves 1-2-3-4 completed inside. The fifth sub-wave is currently unfolding. Corrective horizontal wave 4 of a smaller degree has recently completed as a double three [W]-[X]-[Y] within the upward impulse (5) of [5]. The Bitcoin price should rise in sub-wave [5] of a smaller degree to a level of 73100.00, where wave 5 will be 50% of wave 3.

Trading plan for BTCUSD today:

Buy 64967.50, TP 73100.00

Elliott wave Ripple analysis

The XRPUSD continues forming 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 bearish correction B has also finished. The Ripple price should be rising in the C impulse to a level of 1.380, as outlined in the chart.

Trading plan for XRPUSD today:

Buy 1.211, TP 1.380

Elliott wave Ethereum analysis

The hourly ETHUSD chart displays the upward impulse wave [5] composed of sub-waves (1)-(2)-(3)-(4)-(5). The first four parts of the pattern The first four parts of this pattern, sub-waves (1)-(2)-(3)-(4), have finished, and the upward wave (5) is forming. The price must have been corrected down in sub-wave 4 recently, so it will be rising in wave 5 to a level of 4930.00.

Trading plan for ETHUSD today:

Buy 4785.92, 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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