Nightly Crypto Report: CPI Pop N' Drop


CPI helped gave us an intraday rally, then drop, helping speed up progress in this ongoing correction.

Bitcoin

In one day, Bitcoin topped in (iv) and bottomed in circle-iii. However, this wild action causes me to look for a diagonal as I now see Ether. I will leave the count unchanged for now and it likely does not change where I expect it to find a bottom. But I am watching for the pattern to morph. 

Ethereum

CPI gave Ether a good pop and drop but by late in the day it retraced much of the drop. My take the at moment is that circle-C is an ending diagonal, represented by the A-B-C breakdown in the third. 

ETHBTC

I see the black count playing out as a diagonal and I see it as slightly more reliable than the red count. But both are not clean which can lead to a change of view.

GBTC

GBTC formed a topped a top in wave-(2). $13.90 is the ideal target for (3).

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


  Matched
x