Short-term forecast for BTCUSD, XRPUSD and ETHUSD 28.10.2021

2021-10-28 2021-10-28
Short-term forecast for BTCUSD, XRPUSD and ETHUSD 28.10.2021logo

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.

Ripple and Ethereum haven’t completed corrective waves, so the prices could continue declining. Next, the cryptocurrency pairs will start rising.

The article covers the following subjects:

Elliott wave Bitcoin analysis

Bitcoin is developing the final wave in the large zigzag-shaped correction [B], impulse wave (C). The (C) wave is composed of five sub-waves marked with red letters 1-2-3-4-5. Correction 4 is currently unfolding as a simple zigzag [A]-[B]-[C]. Impulse [A] has finished, correction [B] could finish at a level of 63790.00, as outlined in the chart. An approximate trajectory of the Bitcoin future price movement is outlined in the chart.

Trading plan for BTCUSD today:

Buy 58654.00, TP 63790.00

Elliott wave Ripple analysis

The XRPUSD market continues forming the large linking wave as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The first three sub-waves have completed, and there is unfolding the final leg in the second linking wave [X]. The bearish wave (Y) should soon and as a double zigzag. Next, the market will be rising in the motive wave [Z]. The price could break through the high of 1.159, marked by sub-wave (X).

Trading plan for XRPUSD today:

Buy 0.997, TP 1.159

Elliott wave Ethereum analysis

The ETHUSD market is forming a large corrective wave B, with the final impulse wave [C] developing inside. Sub-waves (1)-(2)-(3) have completed in the [C] wave. There is developing corrective wave (4), composed of sub-waves W-X-Y. The final wave Y should soon end, and the market will start rising in wave (5). Wave (5) could end around level 4360.00, marked by impulse wave (3).

Trading plan for ETHUSD today:

Buy 3975.70, TP 4360.00

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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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