Bitcoin Cash And Ripple Eye To June's Low: Elliott Wave Analysis

gold-colored Bitcoin

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There is no big changes in the Crypto market over the weekend actually. We have seen slow and mostly sideways price action, which we still think it's a consolidation within a downtrend. 
After another sharp decline, seems like Crypto market is making a new short-term corrective recovery so, still be aware of a bearish continuation, but maybe after some Monday's rally.

BCHUSD is one of the weakest and looks like bears are still in control after recent three-wave corrective recovery in the 4-hour chart. We actually still see it in wave 4 correction of a bigger ending diagonal pattern that can retest the lows for the final wave 5 of (C) before we will see a bullish reversal. 

In ending diagonals, final wave 5 should be completed by a three-wave a-b-c decline, so watch out for more weakness within wave "c" of 5 after recent wave "b" pullback.

Bitcoin Cash 4h Elliott Wave Analysis

(Click on image to enlarge)

Bitcoin Elliott Wave Analysis

XRPUSD is back down in the 4-hour chart, so seems like a bigger ending diagonal is still in progress and XRP is now probably on the way back to June 2021 lows and below 0.50 level for the 5th wave, where we will be looking for the strong 0.50 – 0.30 support zone. In ending diagonals, wave 5 should be completed in three legs (A)-(B)-(C) and as you can see, wave (C) is still missing, so watch out for another sell-off after recent pullback in wave (B).

Ripple 4h Elliott Wave Analysis 

(Click on image to enlarge)

Ripple Elliott Wave

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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