Short-term forecast for BTCUSD, XRPUSD and ETHUSD 22.10.2021

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 seem to be forming bearish trends. Therefore, the prices should continue falling.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The BTCUSD market is forming a global corrective trend, with a large corrective wave [B] completed inside. The [B] correction is composed of sub-waves (A)-(B)-(C). In the most recent chart section, the market has turned down and started declining in the new down wave. The price should continue declining to a level of 59800.00.

Trading plan for BTCUSD today:

Sell 63136.50, TP 59800.00


Elliott wave Ripple analysis

The XRPUSD market completed the motive wave W. Next, the market has started rising in the linking wave X, unfolding as a zigzag [A]-[B]-[C]. The final sub-wave of the [C] impulse is developing as an ending diagonal 1-2-3-4-5, which could end at a level around 1.2253, market by sub-wave (3). One could enter buy trades in the current situation.

Trading plan for XRPUSD today:

Buy 1.104, TP 1.236


Elliott wave Ethereum analysis

It is clear from the hourly ETHUSD price chart that there is forming a corrective trend, with corrective wave B completed inside. The chart displays the second half of this correction, the final part of the [B] correction, and the entire impulse wave [C]. Currently, the initial part of the new bearish trend is developing. The Ethereum price should be declining to the previous low of 3670.00, marked by correction 4.

Trading plan for ETHUSD today:

Sell 4148.00, TP 3670.00


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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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