- Crypto market is trading higher
- Bitcoin approaches 45k-47k resistance
- Ethereum has resistance around 3000-3500 level
Crypto market is moving slowly higher, but it's still trading at the strong resistance zone, so be very careful this week, because a reversal down may occur anytime soon. However, only if we see broken bearish confirmation levels, only then we can confirm resistance in place.
BTCUSD is making a bigger recovery, but we still see it as part of an (A)-(B)-(C) flat correction within higher degree wave B, where wave (C) could have completed a five-wave cycle. So, keep an eye on the projected resistance here in the 45k-47k, where bears for higher degree wave C may show up again.
Bitcoin 4h Elliott Wave Analysis Chart
ETHUSD is making a bigger recovery after a hard fork, ideally still an A-B-C flat correction into a higher degree wave B. But, we are already tracking the final stages of wave C of B that can find the resistance around 3000, maybe even 3500 area, from where we should be aware of a strong bearish reversal back to lows for a higher degree wave C.
Ethereum 4h Elliott Wave Analysis Chart
Comments
Log in or sign up to join the conversation.