Crypto market shows support in place, at least temporary one
|We have a solid intraday recovery in the Crypto market after Trump exempted smartphones and computers from new tariffs, so technology sector could stabilize, which means that support can be in place in the Crypto market, at least temporary one. Crypto TOTAL market cap chart can now be looking for a minimum three-wave A/1-B/2-C/3 recovery based on two different interpretations after we spotted wave 5 of an impulse or wave C of a correction.
According to primary count, it may have a completed wave 5 of a five-wave bearish impulse, which can send the price lower, but after an ABC corrective recovery that can revisit 3T resistance area.
Regarding secondary count, we can see a completed wedge pattern within wave C of an ABC correction, which means that bulls can be back in the game with a new five-wave bullish cycle.
As you can see, Crypto TOTAL market cap chart can see more upside for wave C or 3 at least back to 3T area, just watch out on wave B/2 pullback, if wave A/1 is coming to an end.
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.
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.