Nightly Crypto Report: Bulls Surprise in Bull Markets

Long-term Traders:

Intermediate-term write-ups and charts are included but have not changed.

Key levels:

Bitcoin Supports: $61,700, $55,200, $54,000. Bear Market Pivot (or diagonal confirmation): $24,000

Ethereum Supports: $4423, $3917, Bear market pivot: $990

GBTC Supports: $46.50, $45 Bear market pivot (or diagonal confirmation): $24

Short-term Traders:

General

Ether has followed through with another breakout. And, last night's move in Bitcoin has me favoring the bullish count. 

Bitcoin

With last night's action, I have turned the red count black. In this count, as long as over $61,700, I expect Bitcoin to rally towards $76K to 80K in circle-3. 

Ethereum

With another breakout, ideally, Ether grinds to $5500. $4423 is tight support. 

ETHBTC

We have decent evidence that the red D wave has topped. 

GBTC

I down-shifted micro targets for GBTC to better fit the latest daily view. I still see it reaching $88-114 before the third tops, per the daily. Ideally circle-iii reaches the $56 region. I still like the red ABC as it would simplify this count. But we haven't seen the ideal depth for red b.

Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.