Nightly Crypto Report: No Let Up, No Get Up

Today's action makes it clear to me that this correction is not at an end with price action so weak. I had been looking for a B wave rally all day, and the market could barely eek it out. In fact, in the middle of the day I had produced a red count, thinking we were about to invalidate my B wave expectation.

Note that the red count is gone now as we have filled out the minimum expectation for the B wave. Now that the minimum expectation has been met, we can see the (c) of Y commence at any time. Or, we can see this B wave become more complex.

I expect a drop in Bitcoin, if it would commence tonight, to break to at least $6765.  But just as B's and 4's evolve, that target will likely change. No drop has commenced yet. We are very far from 5 waves up in Bitcoin, so I have no clear bullish scenario, though I am watching for one. 

Ether also has its B wave expectation met, so can drop at any time. A drop now targets $210-208 for 3/(C), but if a diagonal that also will adjust. 

GBTC should be done with the A wave at this point. Perhaps we'll see a bounce in (B) tomorrow. 

No adjustments to ETHBTC yet. 

ETHUSD - Primary Analysis - Jun-06 2018 PM (6 hour)
ETHUSD - Primary Analysis - Jun-06 2018 PM (6 hour)
XBTUSD - Primary Analysis - Jun-06 2012 PM (45 min)
XBTUSD - Primary Analysis - Jun-06 2012 PM (45 min)
XBTUSD - Primary Analysis - Jun-06 2012 PM (6 hour)
XBTUSD - Primary Analysis - Jun-06 2012 PM (6 hour)
ETHUSD - Primary Analysis - Jun-06 2011 PM (1 hour)
ETHUSD - Primary Analysis - Jun-06 2011 PM (1 hour)
GBTC - Primary Analysis - Jun-06 1959 PM (45 min)
GBTC - Primary Analysis - Jun-06 1959 PM (45 min)
Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.