Bitcoin and Ethereum Intraday: Elliott Wave Analysis

in #elliottwave • 4 years ago
  • Bitcoin and Ethereum Intraday wave cycles
  • Bitcoin traders in the support zone
  • Ethereum is back to highs

BTCUSD is still trading in the strong support zone for wave 4, but we need to see a decisive break back above 64k level to confirm more gains within wave 5. However, it made an interesting spike down yesterday and we warned about that drop as part of a potential leading diagonal, which can be still in play, so keep also an eye on bearish COUNT #2, where ideal resistance would be at the former wave »ii« swing high around 61,8% Fibonacci retracement.
Bitcoin 1h Elliott Wave Analysis

btc.png

ETHUSD is back to highs as we also warned about, but now that is hitting all-time highs and finishing 5th wave, we have to be very careful. We actually still see room up to 4400 – 4700 zone. However, any earlier sharp or impulsive decline back below 3900 region would be definitely signal for a temporary top.
Ethereum 1h Elliott Wave Analysis

eth.png

#btcusd #ethusd
4 years ago in #elliottwave by
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