Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 11.11.2024

Dear readers,

I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.

The article covers the following subjects:

Major Takeaways

  • BTCUSD: The price is expected to rise to 84,600.00 amid the current bullish momentum.
  • XRPUSD: Subwave (1) is presumably forming as an impulse. Consider long positions with Take Profit at a high of 0.659.
  • ETHUSD: Expect an impulse move in the direction of the previous high. Consider buying from the current level with Take Profit at 3,560.00

Elliott Wave Analysis for Bitcoin

BTCUSD has presumably formed correction [4] as a triple zigzag (W)-(X)-(Y). A new bullish wave is developing in the last segment of the chart. It may form as an impulse (1)-(2)-(3)-(4)-(5). Impulse (1) and correction (2) have already formed. Subwaves of a smaller degree 1 and 2 also look complete. The price is expected to rise in the third part of subwave 3 to 84,600.00, then pull back slightly in correction [4] and continue rallying in subwave [5]. Long positions can be considered in this scenario.

Trading Plan for BTCUSD for Today:

Buy 80,828.50, Take profit: 84,600.00


Elliott Wave Analysis for Ripple

The XRPUSD chart presents a breakdown of a large correction pattern – zigzag [A]-[B]-[C]. We can see the final part of the completed impulse wave [A]. The corrective wave [B] is formed as a zigzag (A)-(B)-(C). The first subwave (1) may be forming in the final segment of the chart, marking the beginning of a bullish impulse wave [C]. Subwave (1) is projected to end as an impulse 1-2-3-4-5 near the previous high of 0.659, marked by correction (B).

Trading Plan for XRPUSD for Today:

Buy 0.570, Take profit: 0.659


Elliott Wave Analysis for Ethereum

A complex correction (B) may have formed as a double zigzag W-X-Y in Ethereum‘s chart. The first part of a new bullish wave started developing, presumably as an impulse [1]-[2]-[3]-[4]-[5]. Its first subwave [1] formed as a leading diagonal (1)-(2)-(3)-(4)-(5). Then, the price corrected in a zigzag-shaped subwave [2]. So, the price is growing in the third impulse subwave and may reach a peak of 3560.00 or even higher.

Trading Plan for ETHUSD for Today:

Buy 3,130.37, Take profit: 3,560.00


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/litefinancebrokerchat. 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/litefinance

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}} )

This post is originally published on LITEFINANCE.

  • Related Posts

    Best Scalping Indicators on Forex

    Scalping is a type of high-frequency trading that involves holding trades in the market from a few seconds to a few minutes. This trading strategy is complex, requiring maximum concentration,…

    Pound Loses Ground Against Greenback. Forecast as of 14.11.2024

    The British pound grows reluctantly on positive economic news and experiences sell-offs against unfavorable data releases. The Bank of England’s hawkish stance initially supported the GBPUSD pair. However, the release of…

    Leave a Reply

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

    You Missed

    JPMorgan’s quants see upside for gold prices from here after Trump win

    • November 14, 2024
    JPMorgan’s quants see upside for gold prices from here after Trump win

    Nigeria plans $28 billion spending for 2025 budget, minister says

    • November 14, 2024
    Nigeria plans $28 billion spending for 2025 budget, minister says

    Gold prices fall on inflation worries; copper slips lower

    • November 14, 2024
    Gold prices fall on inflation worries; copper slips lower

    Master the Market with Hedge Fund Forex Strategies

    • November 14, 2024
    Master the Market with Hedge Fund Forex Strategies

    Mexico’s Sheinbaum to present constitutional safeguard for non-GMO corn in coming days

    • November 14, 2024
    Mexico’s Sheinbaum to present constitutional safeguard for non-GMO corn in coming days

    Oil prices rebound 1% after dollar-related sharp declines

    • November 14, 2024
    Oil prices rebound 1% after dollar-related sharp declines