Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (24 August 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.

The cryptocurrency prices should continue growing for some time; next, the market will go down.

The article covers the following subjects:

Elliott wave Bitcoin analysis

The Bitcoin price continues rising following the upward corrective wave [B], namely its final sub-wave (C). The (C) wave is an impulse. Let us focus on its final leg, sub-wave 5. Sub-waves [1]-[2]-[3]-[4] have completed, and sub-wave (5) of a smaller degree will conclude wave [5]. The Bitcoin price should rise to a level of 51900.00. Therefore, one could open buy positions.

Trading plan for BTCUSD today:

Buy 49577.50, TP 51900.00

Elliott wave Ripple analysis

In the hourly timeframe, The XRPUSD market is forming the upward impulse wave C, which will conclude the linking wave (X) of a larger degree. Wave C is about to finish soon. Sub-waves (1)-(2)-(3)-(4) have completed within wave C, and four sub-waves out of five have formed in sub-wave (5). The Ripple price should continue rising to a level of 1.402. One could consider entering purchases in the current situation.

Trading plan for XRPUSD today:

Buy 1.236, TP 1.402

Elliott wave Ethereum analysis

The hourly timeframe of the ETHUSD price chart displays the structure of the final wave of the global correction B, that is, wave [C]. Wave [C] is a five-wave impulse. There must be forming the final wave 5, which should conclude wave (5) at a level of 3670.00. One could consider entering buy trades with the target at 3670.00.

Trading plan for ETHUSD today:

Buy 3336.13, TP 3670.00

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 LiteForex 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 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.

Rate this article:

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


Source link

Leave a Reply

Your email address will not be published.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