Nightly Crypto Report: A Ripe Fourth Wave

Bitcoin and Ether may have given us ANOTHER B wave top in evolving fourth wave that is now quite ripe. Both coins may be in their respective waves 2s after anemic fifths. But in light of their weak fifths, I need wave four to break before I say that is likely. 

As shared in recent webinars, I will milk this range as long as the charts are stuck in a rut by trading in and out around a core. 

Bitcoin

Short of Bitcoin reaching $31,800 I have to call this fifth wave too anemic to trust. It appears that Bitcoin needs to reset wave-4. It is also possible that wave-5 is restructuring in the red ABC. But it would need to turn off the intraday low to make that likely.  

Below $29K, I will count Bitcoin in wave-(2) already. 

Ethereum

Ether has filled in the bare minimum for circle-5 of wave-i. But it would have been more believable with a break over $2000. So, I must consider that it is resetting circle-4 in red C. But if it breaks $1827, I will assume it is already in wave-ii. 

ETHBTC

Zooming in, red-ii should hold 0.061. If it breaks 0.061, sustained, I will assume we are headed to 0.058-9 in wave-3. 

GBTC

GBTC has presented another potential B wave top. But if it gives one more low, I must consider that circle-1 may have extended.