• Amazon may accept crypto payments.

  • Crypto currencies see strong intraday price jump.

  • Bitcoin trades into wave c of B.

We can see strong intraday jump and recovery in the Crypto market as »Amazon may soon allow users to pay in cryptocurrencies like Bitcoin«. But, as you can see, Crypto wave structures still look corrective within downtrend, as we are tracking wave B correction. 

Bitcoin, BTCUSD is making strong and impulsive intraday recovery, which we now ideally see it as part of an A-B-C flat correction within higher degree wave B, where wave C should be completed by a five-wave cycle. So, keep an eye on the projected 40k - 47k resistance area, where bears for higher degree wave C may show up again.

BTC/USD 4h Elliott Wave analysis chart

Bitcoin


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Editors’ Picks

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

Since XRPArmy and lawyers in the crypto ecosystem consider the US Securities & and Exchange Commission’s (SEC) move to pull documents out of public view as evidence that the case is coming to a close, a Ripple win appears more likely.

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Bitcoin Weekly Forecast: BTC must hold $45K to target new all-time highs

Bitcoin price is on a rollercoaster ride as it crashed violently on September 7, consolidated for a few days after that and went on an uptrend to undo the losses. Over the past 24 hours, however, BTC seems to be consolidating for a volatile move without a clear directional bias.

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Chiliz price is stuck in a tight consolidation above a crucial support floor and shows no signs of recovering from this slump. In fact, CHZ might retrace lower before heading on an uptrend.

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ICX Price Prediction: ICON prepares for 20% descent as bulls fade away

ICON price looks ready for a swift downswing after an explosive run over the past ten days. The crypto markets’ slowdown after the recent run-up makes this bearish scenario a perfect fit. Going forward, investors can expect ICX to head lower and retest stable support barriers.

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Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

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