The price of the most popular Bitcoin cryptocurrency rebounded after a fall from last week to the level of $ 16, 416. This level is 61% of the retracement of Fibo of the previous downturn, marked on the chart as A? Wave. IF the correction of the fourth wave (4) will develop in the form of the ABCDE triangle, then a few sub-waves have to be completed to finish the...
The complex corrective structure on ETHUSD hasn't been finished yet as there is still missing sub-wave to the downside. The simplest scenario includes another Double Three in the last leg of wave Y of wave 2. The projected target is at the level of 136.11. Any breakout throught 61% Fibo at the level of 338.00 will likely invalidate the downward scenario.
After falling to $ 2,967 (labeled wave C correction of WXY complex or alternative wave 4), the price has rebounded quite dynamically towards $ 4,000 but the rebound was in three waves (a) (b) (c). Falling correction of wave B can also be labeled as a three-wave irregular correction (a) (b) (c). It would mean that the market is currently in the process of plotting...
The Elliott wave scenario posted last week had developed as intended: the price has hit the supply zone at the levels of $4,591 - $,4,690, established the top for the wave B and then dropped down towards the technical support at the level of $3,992. The current Elliott wave count indicates a possible termination of the wave C at the weekly pivot support at the...
After the breakout above the first supply zone, the price of BTCUSD 2.64% is now testing the second supply zone between the levels of $4,600 - $4,700. If this zone will not cap the price somewhere in the rectangle area, then another attack on swing highs at the level of $4,970 is possible. This scenario would also mean, that the golden trend line is so far working...
The price of BTCUSD has broken below the golden trend line and headed lower towards the 61% Fibo that was violated as well. Currently, the price is trying to bounce back to test the broken trend line, but there is a supply zone between the levels of $4,385 - $4, 480, so only if this zone is clearly violated, the bulls will be back in control over this market. If,...