Cryptos still in no man's land


ADAUSD triggered the signal line I had - and now corrective rally to 2.9586 region is my preferred scenario. In the case this resistance will be broken out on strong technicals the next target would be 4.36 area.

LINKUSD still holds below 27.38 - the critical signal level - so the decline scenario on the Option 2 Micro is still quite doable. However until the previous low is broken down I would not heavily short this pair as immediate upside potential remains there thus far (nano level).

ETHUSD: corrective rally in the wave circle c of 2 up (the Option 2 Micro Linear chart) is looking quite feasible unless ETH breaks below 2651 region - the critical support for immediate rally scenarios. To confidently switch to the bullish Option 1 Micro I need 3740 resistance region to get broken out in impulsive manner.

BTCUSD: the key signal levels to watch are presented on the Option 2 Micro Log chart. Above 39767 the pair retains at least a local upside potential but to confirm really bullish intentions it should take out 52919 level. Any bounce holding below 48807 leaves devastating decline scenario alive (the Option 1 Micro Log count).

The Alternate D Log chart presents extended target zone for possible decline scenarios in the wave circle 2 (the black and the red counts).

LINKUSD - Option 1 Micro - Sep-24 0924 AM (4 hour)
LINKUSD - Option 1 Micro - Sep-24 0924 AM (4 hour)
ADAUSD - Option 1 Micro - Sep-24 0922 AM (4 hour)
ADAUSD - Option 1 Micro - Sep-24 0922 AM (4 hour)
LINKUSD - Option 2 Micro - Sep-24 0924 AM (4 hour)
LINKUSD - Option 2 Micro - Sep-24 0924 AM (4 hour)
BTCUSD - Option 2 Micro Log - Sep-24 0928 AM (4 hour)
BTCUSD - Option 2 Micro Log - Sep-24 0928 AM (4 hour)
ETHUSD - Option 1 Micro Log - Sep-24 0920 AM (4 hour)
ETHUSD - Option 1 Micro Log - Sep-24 0920 AM (4 hour)
BTCUSD - Option 1 Micro Log - Sep-24 0920 AM (4 hour)
BTCUSD - Option 1 Micro Log - Sep-24 0920 AM (4 hour)
ETHUSD - Option 2 Micro Linear - Sep-24 0920 AM (4 hour)
ETHUSD - Option 2 Micro Linear - Sep-24 0920 AM (4 hour)
BTCUSD - Alternate D Log - Sep-24 0920 AM (1 day)
BTCUSD - Alternate D Log - Sep-24 0920 AM (1 day)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.