Elliott Wave Analysis: BTCUSD and DASH Being A Bullish Force!

Gregor Horvat Wavetraders

Hello traders,

As expected, Bitcoin stopped at important resistance area around 8000 level for wave 3 and clearly with five sub-waves, which means that we should be aware of a deeper a-b-c correction in wave 4 here. However, the price is still at the highs, so only a sharp and impulsive decline would be a signal for a completed five-wave cycle within wave 3.

BTCUSD, 4h

Even Dash came into new highs and potential resistance area for wave "v" of C/3 very quickly, so here as well we should be aware of a deeper a-b-c pullback soon. However, there is still some room towards 150-160 area, but this can be reached with a spike, so carefully at this stage.

DASH, 4h

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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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