Elliott Wave Analysis: BTC/USD And ETH/USD

Forex Technical Analyst • Feb 9, 2018 at 10:21 AM EST

It looks like cryptos are turning, but to make sure we go higher it would be nice to see Nasdaq 100 turning up as well.

BTC/USD is trading nicely higher for the last couple of days, suggesting that maybe bigger correction on BTC/USD is over. We see a possible low at the 5904 level, from where a nice bounce followed. This can now represent wave i, followed by wave ii that can see support around the 7212 level.

BTC/USD, 1h

Remember we are first looking for only a three-wave reversal to the upside. This is our minimum expectation.

(VIDEO) BTCUSD Showing Evidences Of A Reversal by ew-forecast on TradingView.com

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