ew-forecast

Elliott Wave: Bitcoin Has Support Near 54k

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

I just want to give a quick update here from last week when I highlighted both counts for BTC , triangle or ending. Both are still valid with nice support near 53.00. Drop below 43000 will suggest that bitcoin is likely trapped in some higher degree consolidation.
Not sure if you are tracking technology sector, NASDA100 in particular which turned nicely higher and this seem positive for cryptocurrencies in general. As you know ALTs are flying, but maybe it will be the bitcoin turn soon, if we consider that Bitcoin dominance is coming down to support. More about this next time.

GH
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Comments

Perfect analysis.
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nice Elliott Wave trend.
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