Bitcoin (BTC), Ethereum (ETH/USD) Technical Analysis - Wednesday, March 17

(Video length 00:23:50)

  • Overview: Bitcoin and Ethereum tracking two Elliott wave counts.
  • Bitcoin Elliott Wave Analysis: Appears the Expanded Flat Correction as Wave 4 is coming into play, that is Wave v of (i) of c) of 4.
  • If the Expanded Flat is correct, then a move down to 40,000 (Medium Level ML4) is the target.
  • Trading Levels: Current support Minor Levels (mTL5)55k and (mTL8) 58K as the resistance. 
  • Bitcoin Trading Strategy: Waiting to confirm short trades in Wave (ii)

Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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