The Crypto market is in an intraday sideways consolidation after that sharp decline and broken channel support line. So, we believe it's just a pullback that can be also a slightly bigger one before we will see more weakness so keep in mind that any intraday rally could be limited.
Image Source: Upsplash
Bitcoin Dominance is trading at all-time lows against ALT. Dominance and we see BTC.D/OTHERS.D ratio chart trading in 5th wave. Of course, it may stay down for a while, but it's important to warn that we are in a bear market and that's why BTC is currently losing a little bit more than ALTcoins.
However, we have to keep in mind that sooner or later BTC will start dominating again, so most of ALTcoins will have hard times to wake up. We believe that once Crypto market find support/bottom in general, BTC will be the best investment again. ALTcoins will follow BTC rally later.
Bitcoin Dominance 4h Elliott Wave analysis
(Click on image to enlarge)
SHIBUSD is still moving nicely lower within a complex (W)-(X)-(Y) corrective decline as expected and if we consider another 60% decline like in wave (Y), then final wave C of (Y) could ideally stop at the former wave (4) around 0.00002x support zone.
Shiba Inu 4h Elliott Wave Analysis
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