Bitcoin, BITCOMP looks to be still trading bearish in the 4-hour chart, so we are still tracking a five-wave cycle within wave (C) or (3) that can send the price at least down to 30k level for wave (C) if not even lower for wave (3). Keep in mind that BTC is bearish as long as it's trading below strong trendline connected from the highs and below 43500 invalidation/bullish confirmation level.
Bitcoin 4h Elliott Wave Analysis
Ripple, XRP-X remains nicely bearish as expected and with recent impulsive decline in the 4-hour chart, seems like final wave (C) of 5 of a big wedge pattern is already underway, which has to be finished by a five-wave cycle of the lower degree. So, be aware of that final dip below June 2021 lows and towards 0.50 - 0.30 support zone before bulls show up.
Ripple 4h Elliott Wave Analysis
Comments
Log in or sign up to join the conversation.