Crypto market is back in uptrend [Video]

Gregor Horvat Wavetraders

We have been talking a lot about a corrective price action in the Crypto market for the last couple of weeks. We also shared a lot of free charts, articles and even video analysis, where we mentioned and highlighted a higher degree wave 4 correction within an ongoing five-wave bullish cycle.

As you can see today, Crypto market is nicely extending higher as expected, but mostly due to Bitcoin and Ethereum as Ethereum is leading a rally in digital assets because of greater odds of ETH ETF approval. However, now that both of them have space for more gains, even some ALTcoins may follow soon, as Crypto total market cap chart can be now unfolding a new five-wave bullish cycle within higher degree wave (5).

Total four-hour chart

On the intraday basis we are tracking subwave »iii« of 3, so while the price is above 2.38T level, be aware of a bullish continuation, just watch out on short-term 4th wave pullbacks.

Total one-hour chart

For a detailed view and more analysis like this you may want to check below our latest recording of a live webinar streamed on May 20 2024:

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Wavetraders

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

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