- Galaxy Digital Holding follows Bitcoin
- Bitcoin unfolds wave A with in wave (IV)
- Recovery can take place before final decline
Galaxy Digital Holding, one of the most popular Crypto-related stocks has now just like BTC is also five waves down from the highs. There will be a recovery soon, but probably a corrective one only. ALTcoins will bounce and rise too, but long term they will probably stay in a bigger sideways range. Only a few, which are currently the strongest ones will be able to test all-time highs earlier. At the moment, there's room for more weakness, so the bottom is not in place yet.
GLXY vs. BTC Daily Elliott Wave Analysis Chart
Bitcoin, BTCUSD turned down exactly from the projected target area for wave V of (III) and it's now trading nicely within wave (IV) correction, which will obviously take even more time as we see five waves down from the highs as part of the first leg A. So, after a corrective recovery in wave B that can occur anytime soon, we will have to be aware of another sell-off for wave C to complete a three-wave A-B-C correction within wave (IV) before we may see a rally back to all-time highs.
Bitcoin Daily Elliott Wave Analysis Chart
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