- Cryptos recover in intraday trading
- Altcoins can stay sideways
- Dogecoin is still waiting for a 0.13 support area
Cryptos are in the intraday recovery mode, but looking at the Crypto Total Market Cap chart, the current rise looks quite slow, so we still like the idea of a potential flat pattern within wave B before another jump into a wave C.
At the same time Bitcoin could be headed down out of a triangle back to lows before a bigger recovery, maybe even Ripple XRP/USD, while most ALTcoins can stay sideways or can see deeper intraday corrections within wave B before a bigger corrective recovery for wave C. If Cryptos face even bigger recovery, then BTC can see a flat correction in wave 4, while ALTcoins could be already on the way up within wave C.
Dogecoin DOGE/USD is coming slightly higher, but still in three waves only, so there's nothing bullish yet and 0.13 support area is still waiting, therefore we like the ideal of a bearish running triangle pattern within wave »b« before another decline into wave »c« towards projected support zone.
Dogecoin DOGEUSD 4h Elliott Wave Analysis Chart
Comments
Log in or sign up to join the conversation.