Elliott wave Analysis: Cryptocurrencies Like SUBBTC and TRXBTC

Gregor Horvat Wavetraders

Good day traders! Let's take a look at some cryptocurrencies.

Let's talk about Substratum against BTC, which bounced from strong support as projected. So, we expect higher levels on SUBBTC as long as it's trading above 0.000085 invalidation level, but if you want to go long, we strongly suggest to wait on a break above 0.00017 confirmation level first and if that happens, then we may see even higher levels towards 0.00029 for wave C.

SUBBTC, 1h

TRXBTC found perfect support at 0.000004 psychological level and the base channel support line as we projected in the previous update and most important is that we have clear five waves up from the lows into wave 1, which means that bottom can be in place and we may see much higher levels after a three-wave a-b-c correction into wave 2, where support can be around 61,8% Fibonacci retracement and the 0.000006 level.

TRXBTC, 1h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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