Bitcoin and Bitcoin cash seem sideways: Elliott Wave analysis

Gregor Horvat Wavetraders

Crypto total market chart is trying to turn down from 78,6% Fibonacci intraday retracement. If we are on the right path, then Crypto market can see another intraday slow down so be aware of further sideways consolidation before a sell-off occurs.

BTCUSD may now have a completed wave »c« and with current slow down for wave »d«, a bearish triangle looks more and more probable scenario, so watch out for a bearish continuation once subwave »e« of (4) is fully completed.

Bitcoin 1h Elliott Wave analysis

BCHUSD is still slow and sideways and bearish triangle within wave 4 can be approaching the end or it's still in progress. Anyway, sooner or later watch out for that drop into new lows for wave 5.

Bitcoin Cash 1h Elliott Wave analysis

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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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