Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.01.2022

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 market continues moving according to the scenarios previously suggested for each cryptocurrency pair covered in the article. The prices should be moving towards the previous highs.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin market is forming a large down wave W that should begin a double zigzag of a larger degree. The W wave is unfolding as a simple zigzag [A]-[B]-[C], with the bearish impulse wave [C] developing as an impulse (1)-(2)-(3)-(4)-(5) inside. The bearish impulse (3) completed after January 10. Next, corrective wave (4) has started unfolding as a simple zigzag A-B-C, which should finish at a level around the previous high of 44454.55, marked by impulse A. One could enter buy trades in the current situation.

Trading plan for BTCUSD today:

Buy 41918.50, Take profit: 44454.55.

Elliott wave Ripple analysis

The XRPUSD market must be forming a large down wave Y as a simple zigzag [A]-[B]-[C], with the final impulse wave [C] unfolding inside. The first three sub-waves have completed in the [C] impulse, and correction (4) is currently unfolding. Correction B seems to have completed as a bearish zigzag [A]-[B]-[C]. Therefore, the Ripple price should be rising in the C wave to a level of 0.805, marked by impulse A.

Trading plan for XRPUSD today:

Buy 0.0.742, Take profit: 0.805.

Elliott wave Ethereum analysis

The ETHUSD market is forming the sown wave Y, which is an element of the triple zigzag of a larger degree. Wave Y must be unfolding as a simple zigzag [A]-[B]-[C], with the final wave [C] developing as an impulse (1)-(2)-(3)-(4)-(5) inside. There could be forming correction (4) as a zigzag A-B-C. The final leg of the zigzag, sub-wave C, could finish at a level of 3414.93, marked by the impulse sub-wave A.

Trading plan for ETHUSD today:

Buy 3122.10, Take profit: 3414.93.

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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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