Share:

Good morning Crypto traders! No big changes from yesterday, Crypto market remains under bearish pressure and there can be room for more weakness, especially now when we see strong daily reversal on stocks, just watch out for intraday pullbacks. Two days ago Microstrategy CEO Michael Saylor Discussed that Bitcoin Can Become $100 Trillion Asset Class, but looking at the Microstrategy chart compared to Bitcoin, we can see a corrective movement within downtrend, so »buy the rumor, sell the news« ?

Microstrategy vs Bitcoin Elliott Wave analysis

Micro Strategy Vs Bitcoin Elliott Wave

BTCUSD is sharply and impulsively down in the 4-hour chart after we noticed 5th wave, so seems like temporary top is in place and we can expect much bigger decline at least in three waves A/1-B/2-C/3. Currently, we are tracking a pullback in wave B/2 or alternatively still wave A/1, however, in both cases be aware of short-term corrective recovery only before the downtrend within wave C or 3 resumes.

Bitcoin 4h Elliott Wave analysis

Bitcoin Elliott Wave


Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!


By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Ethereum price scrapes $3,000 psychological threshold after 20 months, inspiring conjecture on altseason

Ethereum price scrapes $3,000 psychological threshold after 20 months, inspiring conjecture on altseason

Ethereum price has managed to test a crucial milestone for the first time in months, which is a remarkable show of strength considering Bitcoin price has hinted at a fall. This means that Ether has managed to sidestep the BTC cue.

More Ethereum News

VanEck spot BTC ETF trading volume inspires strength in Bitcoin price

VanEck spot BTC ETF trading volume inspires strength in Bitcoin price

VanEck spot BTC ETF, HODL, went parabolic on Tuesday, soaring 14X in a day. With over $258 million in trading volume today, HODL boasts a 60X product average with 32,000 individual trades. WisdomTree’s BTCW and BlackRock’s IBIT are also making headlines with skyrocketing trading volumes.

More Cryptocurrencies News

Bitcoin Price Prediction: $160 million long positions liquidated as BTC slips 2%

Bitcoin Price Prediction: $160 million long positions liquidated as BTC slips 2%

Bitcoin price has extended a leg south after trading within a range for days. While the move has harmed multiple traders, it is the first sign that the next directional bias may be finally ready to show. 

More Bitcoin News

Worldcoin price crashes 10% as AI narrative fades

Worldcoin price crashes 10% as AI narrative fades

Worldcoin (WLD) price was one of the AI tokens that benefitted the most from sector hype in February, rallying almost 270%. However, as the theme is now priced in, WLD holders appear to be booking profits en masse.

More Worldcoin News

Bitcoin: BTC eyes $60,000 but correction looms

Bitcoin: BTC eyes $60,000 but correction looms

BTC has been moving up only since January 22 but could slip into a consolidation before the next leg up. With the rate at which BTC is climbing after the ETF approval, coupled with strong fundamentals, investors should consider buying the dips before BTC hits $60,000.

Read full analysis

BTC

ETH

XRP