Elliott Waves on BTC, LUNA and FTM hint at correction [Video]
|Bitcoin had a selloff earlier today but has managed to bounce at $42k and move higher since then, let alone since the lows identified last week. Luna also found support at the base channel low, somewhat validating the open diagonal pattern, and looking poised to soar to all-time highs. FTM trades near its previous all-time high, however, the upside looks more corrective than impulsive, suggesting we might be in for a flat pattern. All details, and a lot more analyses are in the video below:
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.