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Bitcoin and Ethereum eye more downside: Elliott Wave analysis [Video]

Bitcoin and Ethereum eye more downside: Elliott Wave analysis [Video]
Gregor HorvatGregor HorvatWavetraders

BTCUSD is moving nicely bearish within a five-wave cycle as expected and looks like there's room for more weakness, so after an intraday pullback in wave (iv) be aware of a continuation lower for wave (v) of »iii«. Ideal resistance is at the former wave iv around 44k level.

Bitcoin 1h Elliott Wave analysis

Bitcoin Elliott Wave

ETHUSD keeps moving lower and looks like we are still in wave 3, so after a pullback in wave 4 that can occur during the weekend, be aware of more weakness for wave 5, but only while it's below 3600 invalidation level. Ideal resistance is 3300-3500 area.

Ethereum 1h Elliott Wave analysis

Ethereum Elliott Wave

Bitcoin Elliott Wave and sentiment video analysis 

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

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

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