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Cryptos are coming slightly lower over the weekend following stock market decline and risk-off flows, but it's still strong support here, and we are at extreme pessimism(fear). We also have new open CME GAPs that could be filled in upcoming days. If we also respect an interesting Friday rebound on stocks that can be a signal for the support, then even Crypto market may stabilize soon. Patience is key.

Nasdaq 100 vs. BTCUSD Weekly Chart

From a technical perspective, Nasdaq100 is testing important weekly trendline, while Bitcoin is testing interesting 50-week Moving Average, from where we may see a rebound and bullish continuation.

BTCUSD Weekly Chart

From an Elliott wave perspective, Bitcoin can be still finishing subwave 4 correction before we will see final push to the upside for subwave 5 of V on a daily chart to complete a lower degree five-wave bullish cycle.

BTCUSD Daily Chart

For a detailed view and more analysis like this, you may want to join our live webinar today on Monday, March 10 @ 15.00CET. Link here.

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