Bitcoin and Ethereum eye more downside: Elliott Wave analysis [Video]
|BTCUSD is moving nicely bearish within a five-wave cycle as expected and looks like there's room for more weakness, so after an intraday pullback in wave (iv) be aware of a continuation lower for wave (v) of »iii«. Ideal resistance is at the former wave iv around 44k level.
Bitcoin 1h Elliott Wave analysis
ETHUSD keeps moving lower and looks like we are still in wave 3, so after a pullback in wave 4 that can occur during the weekend, be aware of more weakness for wave 5, but only while it's below 3600 invalidation level. Ideal resistance is 3300-3500 area.
Ethereum 1h Elliott Wave analysis
Bitcoin Elliott Wave and sentiment video analysis
Check more of our analysis for currencies and cryptos in members-only area. Visit Wavetraders for details!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.