Crypto market shows support in place, at least temporary one

Gregor Horvat Wavetraders

We have a solid intraday recovery in the Crypto market after Trump exempted smartphones and computers from new tariffs, so technology sector could stabilize, which means that support can be in place in the Crypto market, at least temporary one. Crypto TOTAL market cap chart can now be looking for a minimum three-wave A/1-B/2-C/3 recovery based on two different interpretations after we spotted wave 5 of an impulse or wave C of a correction.

According to primary count, it may have a completed wave 5 of a five-wave bearish impulse, which can send the price lower, but after an ABC corrective recovery that can revisit 3T resistance area.

Regarding secondary count, we can see a completed wedge pattern within wave C of an ABC correction, which means that bulls can be back in the game with a new five-wave bullish cycle.

As you can see, Crypto TOTAL market cap chart can see more upside for wave C or 3 at least back to 3T area, just watch out on wave B/2 pullback, if wave A/1 is coming to an end.

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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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