BTCUSD is bearish since the price reached new ATH but only with three waves so ideally that was big wave B as part of a big flat or a triangle formation, with more weakness in view in the near future as rally from 43400 unfolded in three waves. A broken trendline will be another confirmation of further weakness.
Bitcoin 4h Elliott Wave analysis
Looking into Litecoin, Lower lows and lower highs is a nice and strong bearish trend that recently slowed down at 126.40 area. We see that as a corrective price action within downtrend, ideally a triangle in wave four so we should be aware of more weakness, maybe already from here after a minor drop below the triangle line. Downward projection is around 100.
Litecoin Elliott Wave analysis
Check more of our analysis for currencies and cryptos in members-only area. Visit Wavetraders for details!
This news is republished from another source. You can check the original article here
Be the first to comment