Short-term forecast for BTCUSD, XRPUSD and ETHUSD 20.12.2021

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.

Bitcoin and Ripple should be declining in the final sub-waves of triple zigzags.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The hourly BTCUSD chart displays the descending triple zigzag currently unfolding, with the bearish wave [A] completed as a five-wave impulse in early December. The market has been rising in corrective wave [B] developing as a double three (W)-(X)-(Y). Wave (W) completed as a double zigzag, and the descending linking wave (X) is currently forming as a triple zigzag. Wave Z should conclude the zigzag at a level of 44500.00, where wave Z will retrace the Y wave by 76.4%.

Trading plan for BTCUSD today:

Sell 46523.00, TP 44500.00


Elliott wave Ripple analysis

The XRPUSD market is forming a descending motive wave (Y) as a simple zigzag, with the first impulse wave A completed and the upward corrective wave developing as a double zigzag[W]-[X]-[Y] inside. All sub-waves of this double zigzag must be also double zigzags of a smaller degree. The final motive wave [Y] will be concluded by the (Y) wave at a level of 0.966, where correction B will be 50% of the A impulse.

Trading plan for XRPUSD today:

Buy 0.891, TP 0.966


Elliott wave Ethereum analysis

The ETHUSD market is forming the middle leg of the larger descending double zigzag W-X-Y, the linking wave X, which is developing as a double zigzag [W]-[X]-[Y]. The first motive wave [W] has completed as a simple zigzag. The chart is forming the final leg of the linking wave [X] as a triple zigzag (W)-(X)-(Y)-(X)-(Z). The price should be declining in the final sub-wave (Z) to the low of 3640.00, marked by the preceding motive wave (Y). After the indicated level is reached, the market could turn up and start forming the upward wave [Y].

Trading plan for ETHUSD today:

Sell 3910.10, TP 3640.00


P.S. Did you like my article? Share it in social networks: it will be the best “thank you” 🙂

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Use my promo-code BLOG for getting deposit bonus 50% on LiteFinance platform. Just enter this code in the appropriate field while depositing your trading account.
  • Telegram chat for traders: https://t.me/liteforexengchat. We are sharing the signals and trading experience
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders https://t.me/liteforex

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.

Rate this article:

{{value}} ( {{count}} {{title}} )

LEAVE A COMMENT

Your email address will not be published. Required fields are marked *