Crypto market is nearing support [Video]

Gregor Horvat Wavetraders

Crypto TOTAL market cap chart is stabilizing following a potentially completed wedge pattern in wave (C), or a leading diagonal into wave (A). Beware of a possible recovery in at least three waves, especially considering that the US Dollar Index (DXY) remains bearish, while the NASDAQ could be preparing for a bullish continuation out of a potential bullish triangle pattern. This suggests that risk-on sentiment is still in play.

CRYPTO vs. NASDAQ vs. DXY

Crypto market is nearing support as the US Dollar remains bearish, while the NASDAQ could be completing a bullish running triangle pattern. Risk-on sentiment is still present, which may push assets higher, while the US Dollar could continue to move lower.

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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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